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Financial News: New Zealand Credit Card Spending Rises For Second

New Zealand Credit Card Spending Rises For Second Month

02/21/2017 - 23:04:00 (RTTNews)

(RTTNews) - Total credit card spending in New Zealand increased for the second straight month in January, though marginally, data from the Reserve Bank of New Zealand showed Wednesday.

Credit card spending edged up 0.2 percent month-over-month In January, much slower than the 3.2 percent climb in December.

Overseas billings grew 2.4 percent over the month to NZ$441 million, while domestic billings dropped by 0.1 percent.

On an annual basis, credit card spending growth eased to 7.1 percent from 8.6 percent in the previous month.

Data also showed that credit card balances rose 0.4 percent from December, when it climbed by 1.0 percent. Annually, credit card balances grew 2.9 percent in January, following a 2.8 percent rise in the preceding month.

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