New Zealand Credit Card Spending Falls 1.6%

New Zealand's credit card spending declined for the second straight month in December, albeit at a softer pace, data from the Reserve Bank of New Zealand revealed on Wednesday.

Total credit card spending fell a seasonally adjusted 1.6 percent monthly in December, following a 2.5 percent drop in November.

Domestic bills decreased 4.0 monthly in December to NZ$4.257 billion, and overseas billing fell to NZ$477 million, data showed.

On a yearly basis, total billing rose 12.4 percent in December, after a 16.2 percent gain in the prior month. The pace of growth was the slowest in five months.

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