New Zealand’s electronic card retail spending growth slowed dramatically in August 2026, signaling a potential cooling in consumer demand. Year-over-year, electronic card retail sales rose just 0.2% in August, down sharply from a 3.4% annual increase recorded in July 2026.
The data, updated on 14 September 2026, show that while spending remains marginally above last year’s levels, the momentum seen in July has largely faded. Both the current and previous readings compare each month’s change with the same month a year earlier, highlighting a pronounced loss of pace in annual growth as the economy moves through the third quarter.
