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Financial News: New Zealand Credit Card Spending Rises For Second

New Zealand Credit Card Spending Rises For Second Month

11/20/2017 - 23:21:00 (RTTNews)

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

Credit card spending climbed 0.8 percent month-over-month in October, following a 0.7 percent rise in September.

Domestic billings grew 0.8 percent over the month to NZ$3.3 billion and overseas billings rose by 1.9 percent.

On an annual basis, credit card spending growth eased to 2.9 percent in October from 4.9 percent in the prior month.

Data also showed that credit card balances increased 0.6 percent monthly in October, after a 0.5 percent rise in September.

Yearly, credit card balances climbed at a slightly faster rate of 5.2 percent in October, following a 5.1 percent gain in the preceding month.

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