New Zealand Credit Card Spending Increases At A Softer Pace In July

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New Zealand’s credit card spending increased in July, though at a softer rate, figures from the Reserve Bank of New Zealand showed on Friday.

Overall credit card spending rose 1.8 percent month-on-month in July, after an 11.5 percent increase in June.

Domestic billing increased 3.6 percent monthly to NZ$3.496 billion and overseas billings declined 7.6 percent to NZ$246 million, data showed.

On a yearly basis, credit card spending decreased 5.8 percent in July, following a 9.4 percent decline in the previous month. This was the fifth consecutive fall.

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