Sharechat Logo

NZ credit card spending falls 0.6 percent in May

Monday 24th June 2013

Text too small?

Credit card billings in New Zealand shrank in May, a month when total spending on electronic cards advanced on increased purchases of fuel, food and liquor and hospitality.

Total billings in New Zealand shrank a seasonally adjusted 0.6 percent to $2.74 billion in May, according to Reserve Bank figures. Of that, domestic billings on local cards declined 0.5 percent to $2.53 billion, while foreign issued cards contributed $212 million. Overseas billings on New Zealand issued cards dropped 1.1 percent to $364 million.

The credit card figures come after Statistics New Zealand data showed a 0.5 percent increase on credit, debit and store cards in May, with fuel, consumables and hospitality capturing most of the gains.

Today's data show total credit card advances outstanding at $5.63 billion, up 0.2 percent on the month, and 0.3 percent higher than a year earlier.

New Zealand's consumers are still relatively upbeat about the economy, with confidence edging up from an already elevated level in an ANZ-Roy Morgan survey released last week.

BusinessDesk.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

NZ dollar falls against Aussie after jobs data there
Sky CEO put on notice by chunky vote against salary share scheme
Unions gearing up to oppose 'market tests' on Fair Pay Agreements
Mandatory farm plans scorned as 'tick box' exercises
Kiwi dollar firms on weak US retail data, capped by rate-cut expectations
17th October 2019 Morning Report
SkyCity hoses down union claims over potential job losses
OPINION: Fair Payment Agreements and 'swallowing vomit' - the lot of the CTU
MARKET CLOSE: NZ shares gain; Restaurant Brands climbs on upbeat outlook
NZ dollar stalls after Bascand's rate cut comments

IRG See IRG research reports