Retail spending is on a downward slide, as official figures show the growth rate in monthly retail transactions at its lowest level in six years.
Statistics New Zealand says the number of electronic card transactions in June fell 0.4% compared with May. The value of the transactions was $4.3 billion.
The drop in retail transactions in June was the result of falls in spending on items such as food, clothing and hospitality. The fall would have been greater but for being offset by an increase in spending on petrol.
