New Zealand’s electronic card retail sales growth slowed sharply in March 2026, underscoring a cooling in consumer spending momentum. Month-over-month, the value of electronic card transactions rose 0.7% in March, down from a 1.4% increase in February 2026.
The data, updated on 16 April 2026, show that while spending continued to grow, the pace of expansion halved compared with the previous month. On a month-over-month basis, February’s 1.4% gain had already marked a solid uplift from January, but March’s weaker 0.7% rise suggests households may be turning more cautious, or that earlier strength in spending is normalising.
As the indicator tracks changes in electronic card usage from one month to the next, the latest figures will be closely watched by analysts and policymakers for signs of shifting demand patterns in the New Zealand economy.
