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Financial News: New Zealand Credit Card Spending Growth Accelerates

New Zealand Credit Card Spending Growth Accelerates

11/21/2022 - 03:56:00 (RTTNews)

(RTTNews) - New Zealand's credit card spending increased at a faster rate in October, data from the Reserve Bank of New Zealand revealed on Monday.

Total credit card spending climbed a seasonally adjusted 1.0 percent monthly in October, after a 0.6 percent growth in September. Spending has been rising since March.

Domestic bills grew 1.1 monthly in October to NZ$3.989 billion and overseas billing increased to NZ$ 556 million, data showed.

On a yearly basis, total billing increased 24.8 percent in October, well below the 34.0 percent rise in the prior month.

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