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New Zealand Credit Card Spending Climbs 1.0% In November

The total value of credit card spending in New Zealand was up a seasonally adjusted 1.0 percent on month of NZ$83 million in November, Statistics New Zealand said on Wednesday - in line with expectations following the 0.2 percent drop in October.

Retail credit card spending jumped 2.6 percent on month or NZ$150 million, beating forecasts for 0.5 percent following the 0.6 percent decline in the previous month.

Spending in the core retail industries also rose 2.6 percent of NZ$127 million.

The non-retail (excluding services) category fell NZ$36 million (1.9 percent), and the services category rose NZ$5.5 million (1.8 percent) in November.

In actual terms, cardholders made 164 million transactions across all industries in November, with an average value of NZ$51 per transaction. The total amount spent using electronic cards was NZ$8.4 billion.

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