New Zealand’s credit card spending decreased in July, after rebounding in the previous month, figures from Reserve Bank of New Zealand showed Tuesday.
Credit card spending dropped 1.1 percent month-on-month in July, in contrast to a 1.9 percent rise in June.
Domestic billing also fell 1.1 percent over the month to NZ$3.3 billion, while overseas billings grew by 1.1 percent.
Year-on-year, credit card spending growth eased to 3.2 percent in July from 5.8 percent in June.
Data also showed that credit card balances rose 0.2 percent in July, following a 0.4 percent increase in the preceding month. Yearly, growth eased to 5.5 percent from 5.8 percent.
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