Total credit card spending in New Zealand dropped for the first time in nine months in September, figures from the Reserve Bank of New Zealand showed Wednesday.
Credit card spending fell a seasonally adjusted 1.9 percent month-over-month in September, reversing a 1.4 percent climb in the prior month. It was the first decrease since December 2014.
Domestic billings declined by 2.2 percent in September from the previous month to NZ$2.749 billion, while overseas billings showed no variations.
On an annual basis, credit card spending rose 7.3 percent in September, but slower than the 10.4 percent growth in August.
Credit card balances edged down 0.1 percent monthly in September and climbed at a slower pace of 4.7 percent year-over-year to NZ$6.488 billion.
The material has been provided by InstaForex Company – www.instaforex.com