New Zealand Credit Card Spending Drops In August

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New Zealand’s credit card spending dropped for the first time in four months in August, figures from the Reserve Bank of New Zealand showed on Monday.

Overall credit card spending fell 5.8 percent month-on-month in August, after an 2.2 percent increase in July.

Domestic billing decreased 5.5 percent monthly to NZ$3.250 billion and overseas billings rose 10.0 percent to NZ$250 million, data showed.

On a yearly basis, credit card spending decreased 11.9 percent in August, following a 5.0 percent decline in the previous month. This was the sixth consecutive fall.

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