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Financial News: New Zealand Overall Credit Card Spending Slips 0.1%

New Zealand Overall Credit Card Spending Slips 0.1% In September

10/09/2017 - 18:51:00 (RTTNews)

(RTTNews) - Overall electronic spending in New Zealand was down a seasonally adjusted 0.1 percent on month in September, Statistics New Zealand said on Tuesday.

That was shy of expectations for an increase of 0.2 percent, and was down from the 0.6 percent gain in August.

Retail credit card spending gained 0.1 percent on month, also missing forecasts for an increase of 0.7 percent. But it was unchanged following an upward revision from -0.2 percent in the previous month.

Cardholders made 137 million transactions across all industries in September, with an average value of NZ$48.

The total amount spent across all transactions was NZ$6.6 billion.

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