Total electronic card transactions
After adjusting for seasonal effects, the total ECT value series was 0.5 percent higher in October 2008 compared with September 2008, which followed on from a 0.8 percent increase in September.
The trend in the total ECT series flattened between February and June 2008 but has strengthened in recent months.
Both retail and non-retail industries increased by a similar proportion in October 2008. The retail industries account for the majority (about 80 percent) of the total ECT value and therefore contributed most to the latest increase.
Electronic card transactions – retail industries
After adjusting for seasonal effects, the retail ECT value series in October 2008 was 0.5 percent higher than in September 2008. Durables, consumables and apparel were the main industries to contribute to the increase, which was partly offset by a decrease in the fuel retailing industry.
The trend in the retail ECT series flattened between January and April 2008 but has increased from then.
Electronic card transactions – core retail industries
After adjusting for seasonal effects, the core retail ECT value series increased 1.0 percent in October 2008, following a decrease of 0.3 percent in September and an increase of 1.7 percent in August. All core retail industries were up in October, led by consumables, durables and apparel.
The trend in the core retail ECT series flattened between October 2007 and May 2008, but has been strengthening since then, up 2.4 percent since May.
Comparing the three series
The impact of rises in fuel prices, which peaked in July 2008, on the retail ECT trend can be seen in the following graph. The trend for the core retail series started to level off after about September 2007 before returning to a stronger increase in the four months to October 2008, whereas for the retail series the flattening of the trend began later and was shorter, strengthening again from April 2008
The main difference between the two ECT retail series is that the automotive fuel retailing industry is not included in the core retail series. Automotive fuel retailing makes up approximately 80 percent of the value of the difference between the two series. Fluctuations in fuel prices have been a key factor influencing the trend of the retail series in recent months.
Other electronic card transaction statistics
- There were 90 million electronic card transactions with New Zealand-based merchants in October 2008, with a value of $4.8 billion. This compares with 83 million transactions in October 2007, with a value of $4.5 billion.
- The mean transaction value for October 2008 was $53, compared with $54 recorded in September 2008 and in October 2007. The high for the year ended October 2008 was $59 in December 2007
- For the year ended October 2008, debit transactions made up 53 percent of all electronic transactions by value (credit was 47 percent). The ratio of debit to credit transactions has remained relatively stable since the beginning of the series in October 2002, with the credit ratio increasing 2 percentage points over that time.
- The mean number of transactions per person (based on the mean number of people present in New Zealand) for the year ended September 2008 was 232. This is up 6.4 percent from the year ended September 2007 (218 transactions).
- For the year ended September 2008, the mean value of transactions per person was $12,708. This is 6.1 percent higher than for the previous September year ($11,980).
Comparison statistics
Comparisons with the Retail Trade Survey
For September 2008 compared with August 2008, the seasonally adjusted figures, as first published, were as follows:
- total retail sales increased 0.1 percent.
- core retail trade sales decreased 0.5 percent.
- retail ECT series were almost unchanged.
- core retail ECT series decreased 0.4 percent.
Other statistics
- For September 2008 compared with September 2007, actual credit card billings in New Zealand (including spending using New Zealand and overseas-issued cards), as issued by the Reserve Bank of New Zealand, increased 14 percent.
- For October 2008 compared with September 2008, the Food Price Index fell 0.3 percent.
For technical enquiries, contact:
Henry Minish or Christine Sadler
Christchurch 03 964 8700
Email: info@stats.govt.nz
Next release ...
Electronic Card Transactions: November 2008 will be released on 5 January 2009.