New Zealand Credit Card Spending Drops In August

New Zealand credit card spending dropped for the first time in six months in August, the Reserve Bank of New Zealand said on Tuesday.

Credit card spending decreased 14.3 percent monthly in August, after a 0.2 percent growth in July. Spending declined for the first time in six months.

On a yearly basis, credit card spending fell to 6.3 percent in August, after a 6.9 percent growth in the previous month.

Domestic card billing grew 13.8 percent monthly in August, after 3. percent rise a month ago.

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