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Financial News: New Zealand Credit Card Spending Growth Slows In

New Zealand Credit Card Spending Growth Slows In May

06/24/2019 - 00:29:00 (RTTNews)

(RTTNews) - New Zealand's credit card spending growth slowed in May after rising in the previous month, figures from Reserve Bank of New Zealand showed on Monday.

Credit card spending growth eased to 0.4 percent month-on-month in May from 0.6 percent in April.

Domestic billing edged up 0.2 percent over the month to NZ$3.54 billion and overseas billings rose by 0.1 percent.

Year-on-year, credit card spending grew to 6.6 percent in May after rising 4.5 percent in April.

Data also showed that credit card balances held flat month-on-month in May. Yearly, growth eased to 1.3 percent from 1.5 percent.

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