Financial News: New Zealand Credit Card Spending Rises 4.4%

New Zealand Credit Card Spending Rises 4.4%

02/22/2023 - 01:43:00 (RTTNews)

(RTTNews) - New Zealand's credit card spending increased at the start of the year after falling in the previous two months, data from the Reserve Bank of New Zealand revealed on Wednesday.

Total credit card spending rose a seasonally adjusted 4.4 percent monthly in January, reversing a 1.6 percent drop in December.

Domestic bills increased 3.2 month-on-month in January to NZ$3.824 billion, and overseas billing climbed to NZ$509 million, data showed.

On a yearly basis, total billing rose 17.9 percent in January, well above the 12.7 percent gain in the prior month. The pace of growth was the fastest in three months.

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