The fall in retail card spending is larger than it seems -- when taking into account price inflation

ASB and Westpac data shows spending through retailers tanked last month.

Stats NZ is showing the same thing, with spending in the retail industries decreasing 1.8 percent in February compared with January.

JMI Wealth Director Andrew Kelleher says it will be a tough year for some sectors.

He says underlying spending is weak, the retail sector is doing it tough, people are spending less and the consumer is being affected by tight monetary conditions.