The seasonally adjusted value of total electronic card spending in New Zealand grew 0.7% in April, on a seasonally adjusted basis, following a 0.2% fall in March, the Statistics New Zealand said Monday.

The value of card transactions in the retail industries grew 0.3% in April, after a 0.4% growth in March, and represented the third consecutive monthly gain. In the core retailing industry, which excludes motor vehicle related industries, the value of card transactions increased 0.5%, slower than a 0.8% rise in the previous month.

Annually, the value of card transactions rose 5.4% in April compared to a 5.5% rise in the previous month. In the retail industries, card transactions grew 4.9%, at the same pace as in March, while in the core retailing industry, the growth slowed to 5.9% from 6.5% in March.

In the year ended April, credit cards accounted for 45.6% of total transactions, down from 46.6% in the corresponding period last year. The statistical office said credit card usage as a proportion of the total value of transactions showed the biggest annual fall in April since the series first began.

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