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New Zealand Credit Card Spending Slides In November

Overall credit card spending in New Zealand was down a seasonally adjusted 0.2 percent on month in November, Statistics New Zealand said on Tuesday.

That was in line with expectations and unchanged from the previous month following a downward revision from -0.1 percent.

Retail credit card spending sank 0.4 percent - missing forecasts for an increase of 0.3 percent following the downwardly revised flat reading in October (originally up 0.1 percent).

Spending in the core retail industries (which excludes fuel and vehicles) advanced 0.5 percent.

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