ANZ NZ Merchant and Card Spending

ANZ NZ Merchant and Card Spending is a monthly breakdown of ANZ card spending on a more disaggregated basis than is available in other measures of card spend (not every category is included).

2024 editions

November 2024

Overall card spend was down 1.2% y/y in November, and up just 0.1% in the month (we report the data as a three-month average). Generally speaking, the types of spending most sensitive to interest rates (housing, durables, and discretionary spending) are still experiencing the largest falls. Tourism categories of spending are also well down versus a year ago, but it had a decent lift in the month.


October 2024

Overall card spend was still down 1.2% y/y in October, but the annual fall is stable. Generally speaking, the types of spending most sensitive to interest rates (housing, durables, discretionary spending) are still experiencing the largest falls. Tourism categories of spending are also well down versus a year ago, likely reflecting more cautious domestic tourism and business travel. Operators will be hoping for a strong summer international tourist season.


September 2024

Overall card spend was still down 1.3% y/y in September, but the annual fall is easing. Generally speaking, the types of spending most sensitive to interest rates are experiencing the largest falls. Tourism categories of spending are also well down versus a year earlier, likely reflecting more cautious domestic tourism (and business travel). Operators will be hoping for a strong summer international tourist season.


August 2024

Overall card spend is down 1.8% y/y in August as soft demand takes its toll. Generally speaking, the types of spending most sensitive to interest rates are experiencing the largest falls: durables, clothing and other discretionary spending, and housing.  The flattening off in the tourism recovery is also evident in the data.


July 2024

Annual growth in overall card spend was just 0.3% y/y in July, suggesting sales volumes are still falling. Spending on durables, discretionary spending categories, clothing and categories related to the housing market remains particularly weak. Tourism-related spending continues to ease (seasonally adjusted) with spend 3.5% lower than a year earlier. Spending on miscellaneous services, miscellaneous goods and utilities/repairs are the only categories where annual growth remains positive.


June 2024

Annual growth has fallen under 1% y/y in June, suggesting sales volumes are still falling. Spending on durables, discretionary spending categories, clothing and categories related to the housing market is particularly weak. Tourism-related spending saw a particularly sharp fall in June (seasonally adjusted) with spend lower than a year earlier. Spending on miscellaneous services, miscellaneous goods and utilities/repairs are the only categories where annual growth remains positive.


May 2024

Annual growth was just 2.3% y/y in May, despite inflation running at a considerably higher pace. Durables, discretionary spending categories and clothing continue to lag. The impetus from tourism-related spending has turned into a drag on growth. Miscellaneous services is one category gaining momentum, with strength here driven by finance services.


April 2024

Annual growth slowed to 2.5% y/y in April, which continues the downward trend in place since the borders reopened and tourist dollars flooded the terminals. Durables and clothing continue to lag and pressure is mounting on consumers’ discretionary spending. The impetus from tourism-related spending is starting to wane. Miscellaneous services is the only category gaining momentum.


March 2024

Annual growth in total spend is 2.5%, lower than last month and well below where the rate of inflation is expected to have been in Q1. Changes in the 3-month average were a mix of rises and falls. Durables and discretionary spending like clothing continue to be particularly exposed to more caution on the part of consumers. Tourism-related spending remains a bright spot, up more than 6% y/y. But now the summer season is behind us, that annual change is much less meaningful in terms of revenue growth.


February 2024

Annual growth in all categories of spending except clothing is back in the black. Annual growth in total spend is 3.5%, still lower than the rate of inflation. Changes in the 3-month average were mostly positive. Spending on clothing remains down from a year earlier, but the annual fall eased from -3% to -1.6%. Durables and discretionary spending are also still feeling the pinch from more cautious consumers. Tourism-related spending remains a bright spot, up around 9% y/y.


January 2024

Annual growth in most categories of spending is back in the black. Annual growth in total spend lifted from 2.5% to 3.5%. Recent momentum as measured by the change in the 3-month average was also stronger. Population growth is likely a big driver. Spending on durables and clothing remains weak, but the annual fall softened from -5.3% in December to -3.0%. Tourism-related spending remains a bright spot. Annual growth in Misc Services was driven particularly by finance services and insurance services.