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New Zealand Credit Card Spending Increases Further

New Zealand credit card spending rose for the fifth month in a row in July, data from the Reserve Bank of New Zealand revealed on Friday.

Total credit card billings rose 3.2 percent monthly in July, following a 2.9 percent increase in June. A similar higher spending was seen in March.

Domestic billings grew 0.9 percent monthly to NZ$3.619 billion, and overseas billings advanced to NZ$510 million in July, data showed.

On a yearly basis, total billings gained 4.9 percent in July, following a 3.9 percent rise in the previous month.

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