Total credit card spending in New Zealand decreased in November after rising in the previous two months, the Reserve Bank of New Zealand said Wednesday.
Credit card spending fell 4.2 percent month-over-month in November, reversing a 3.0 percent climb in October.
Domestic billings declined 3.8 percent over the month to NZ$3.173 billion, while overseas billings grew 2.2 percent.
On an annual basis, credit card spending growth eased markedly to 4.1 percent in November from 10.1 percent in the prior month.
Data also showed that credit card balances dropped 0.4 percent from October, when it rose by 2.0 percent. Yearly, credit card balances increased at slower pace of 1.2 percent in November, following a 2.0 percent gain in the preceding month.
For comments and feedback: editorial@rttnews.com