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Financial News: New Zealand Credit Card Spending Falls Sharply In

New Zealand Credit Card Spending Falls Sharply In April

05/21/2020 - 00:35:00 (RTTNews)

(RTTNews) - New Zealand's credit card spending declined sharply in April, figures from the Reserve Bank of New Zealand showed on Thursday.

Overall credit card spending decreased 49.4 percent year-on-year in April, following a 9.4 percent drop in the previous month.

On a monthly basis, credit card spending plunged 41.3 percent month-on-month in April, following a 9.7 percent decrease in March. This was the third consecutive decrease.

Domestic billing decreased 39.1 percent monthly to NZ$1.78 billion and overseas billings declined 42.0 percent to NZ$203 million, data showed.

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