Total credit card spending in New Zealand increased in March, after falling in the previous month, data from the Reserve Bank of New Zealand showed Thursday.
Credit credit spending rose a seasonally adjusted 0.6 percent month-on-month in March to NZ$3.35 billion, reversing a 0.1 percent drop in February.
Domestic billings also climbed 0.6 percent in March from the prior month to NZ$2.899 billion and overseas billings fell 0.5 percent to NZ$366 million.
On an annual basis, spending increased at a slower pace of 5.2 percent in March, following a 5.8 percent growth in the preceding month.
Credit card balances rose 0.2 percent in March from the previous month and grew 4.0 percent from the prior year to N$6.396 billion.
The material has been provided by InstaForex Company – www.instaforex.com