New Zealand Debit, Credit Card Spending Falls 0.3% (Update1)

New Seeland consumer disbursement on
debit, recognition and shop card game drop in April, adding to signs
record-high interest rates and a slumping marketplace are
curbing demand.

The value of minutes on electronic card game at retailers
declined 0.3 percentage from March when they were unchanged,
Statistics New Seeland said in an e-mailed statement today. Minutes excluding combustible and vehicle gross sales dropped 0.9
percent.

Weak disbursement in April follows a study last hebdomad that
first-quarter slumped by the most in 11 years,
suggesting consumer disbursement is slowing as families pass more
on combustible and food. Weaker domestic demand adds to marks economic
growth have stalled, which may motivate the cardinal depository financial institution to cut
interest rates.

''We see level disbursement going forward,'' said , economic expert at ASB Depository Financial Institution Ltd. inch Auckland. ''Economic growth
is likely to be level over the adjacent few quarters, and we make run
the hazard of tipping into a contraction.''

Twelve of 15 economic experts surveyed by Bloomberg News say
Reserve Depository Financial Institution Governor probably will cut the
official from 8.25 percentage by Sept. 30.

Economic growing will likely slow to 1.5 percentage this year
from 3.1 percentage in 2007, according to the median value prognosis of 10
economists surveyed by Bloomberg News.

The driblet in disbursement in April was led by the hospitality
industry, consumer points and durable goods such as as appliances, the
statistics federal agency said. Higher terms boosted combustible sales.

To reach the newsman on this story:
in Duke Of Wellington at
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