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Financial News: New Zealand Overall Credit Card Spending Flat On

New Zealand Overall Credit Card Spending Flat On Month In February

03/10/2020 - 18:15:00 (RTTNews)

(RTTNews) - Overall credit card spending was flat on month, seasonally adjusted, in February, Statistics New Zealand said on Wednesday - just shy of forecasts for 0.1 percent following the 0.3 percent gain in January.

Retail credit card spending gained 0.6 percent on month - beating forecasts for a decline of 0.3 percent following the 0.1 percent drop in the previous month.

Spending in the core retail industries (which excludes the vehicle-related industries) gained 0.8 percent on month.

In actual terms, cardholders made 159 million transactions across all industries in February, with an average value of NZ$49 per transaction. The total amount spent using electronic cards was NZ$7.8 billion.

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