Total credit card spending in New Zealand increased at the beginning of the year, after falling in the previous month, figures from the Reserve Bank of New Zealand showed Monday.
Credit card spending rose a seasonally adjusted 2.3 percent month-over-month in January, reversing a 0.8 percent fall in December.
Domestic billings grew by 2.4 percent over the month to NZ$2.678 billion and overseas billings climbed by 5.7 percent.
On an annual basis, credit card spending increased at a faster pace of 8.9 percent in January, following a 7.4 percent growth in the preceding month.
Credit card balances went up 0.4 percent monthly in January, in contrast to a 0.1 percent slight drop in the prior month. Annual growth in credit card balances eased to 3.1 percent from 3.3 percent.
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