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New Zealand Credit Card Spending Falls Sharply In April

New Zealand's credit card spending declined sharply in April, figures from the Reserve Bank of New Zealand showed on Thursday.

Overall credit card spending decreased 49.4 percent year-on-year in April, following a 9.4 percent drop in the previous month.

On a monthly basis, credit card spending plunged 41.3 percent month-on-month in April, following a 9.7 percent decrease in March. This was the third consecutive decrease.

Domestic billing decreased 39.1 percent monthly to NZ$1.78 billion and overseas billings declined 42.0 percent to NZ$203 million, data showed.

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