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New Zealand Credit Card Spending, Balances Fall in June

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Credit card spending in New Zealand decreased by 1.3% month on month to NZ$4.37 billion in June after a 1.9% increase in the previous month, while credit card balances fell 0.4% to NZ$5.97 billion in June, data from the Reserve Bank of New Zealand showed Wednesday.

Domestic billings on New Zealand-issued cards fell by 1.1% to NZ$3.93 billion in June, following a 1.8% increase in the previous month. Billings on overseas-issued cards fell to NZ$441 million from NZ$486 million.

Compared with the year-earlier period, credit card spending rose 3.1% in June after a 1.1% increase a year ago.

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