New Zealand Credit Card Spending Declines For The Third Month

New Zealand’s credit card spending declined for the third month in a row in February, figures from the Reserve Bank of New Zealand showed on Tuesday.

Overall credit card spending decreased 1.9 percent month-on-month in February, following a 0.3 percent decrease in January.

Domestic billing decreased 1.8 percent monthly to NZ$3.164 billion and overseas billings grew 6.3 percent to NZ$232 million, data showed.

On a yearly basis, credit card spending decreased 12.4 percent in February, following a 10.7 percent fall in the previous month.