🇳🇿New Zealand Card Spending Falls 20% M/M

Stats NZ:

• This latest drop in monthly seasonally adjusted card spending was less than half the drop seen in April 2020 (down 47.3 percent) when the country was in lockdown for almost the entire month.

• “As expected, the total number of transactions fell sharply since this time last year. We have not seen this level of card activity since May 2020, when the whole country was last under level 3 lockdown,”