New Zealand Credit Card Spending Falls In July

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.

The material has been provided by InstaForex Company – www.instaforex.com

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