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New Zealand Credit Card Spending, Balances Rise in July

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Credit card spending in New Zealand increased by 1.4% month on month to NZ$4.45 billion in July after a 1.2% decrease in the previous month, while credit card balances rose 0.3% to NZ$5.88 billion, data from the Reserve Bank of New Zealand showed Friday.

Domestic billings on New Zealand-issued cards rose by 0.9% to NZ$3.92 billion in July, following a 1% decrease in the previous month. Billings on overseas-issued cards rose to NZ$522 million from NZ$441 million.

Compared with the year-earlier period, credit card spending rose 5.3% in July after a 0.7% increase a year ago.

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