Credit card spending in New Zealand increased at a slower rate in July, figures from the Reserve Bank of New Zealand showed Thursday.
Total credit card billing rose by a seasonally adjusted 4.5 percent year-over-year in July following the 6 percent rise in June.
Billing on New Zealand-issued cards rose 4.2 percent year-over-year, which was slower than the 5.6 percent growth in June. Likewise, billing on overseas-issued cards climbed 7 percent following the 9.5 percent rise in June.
On a month-over-month basis, total credit card spending dropped 0.9 percent in July, after the 0.7 percent increase in June.
Credit card balances rose 4.5 percent year-over-year in July, which was slightly slower than the 4.9 percent increase in June. On a month-over-month basis, credit card balances remained unchanged in July, after the 0.3 percent rise in June.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.