Total credit card spending in New Zealand climbed for the third straight month in July at a faster pace than in the prior month, figures from the Reserve Bank of New Zealand showed Friday.
Credit card spending increased a seasonally adjusted 1.7 percent month-on-month in July, faster than June’s 0.3 percent rise. In May, spending had risen 1.8 percent.
Domestic billings grew by 1.8 percent in July from the previous month to NZ$2.847 billion and overseas billings rose 0.6 percent to NZ$504 million.
On a yearly basis, credit card spending increased at a faster pace of 9.7 percent in July, following a 6.6 percent rise in the preceding month.
Credit card balances rose 0.1 percent monthly in July and climbed at a stable pace of 5.7 percent year-on-year to NZ$6.436 billion.
The material has been provided by InstaForex Company – www.instaforex.com