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New Zealand Credit Card Spending Falls Further In October

New Zealand's credit card spending declined for the second straight month in October, figures from Reserve Bank of New Zealand showed on Thursday.

Credit card spending fell to 1.5 percent month-on-month in October, following a 0.1 percent decrease in September. In August, credit card spending had increased 2.3 percent.

Domestic billing dropped 1.5 percent monthly to NZ$3.58 billion and overseas billings fell 1.0 percent to NZ$582 million.

On a year-on-year basis, overall credit card spending increased to 2.5 percent in October, but slower than 4.7 percent growth in the previous month.

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