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:

Investore Property Limited (Investore) today announced its financial results for the twelve months ended 31 March 2020 (FY20).
Rabobank GDT Analysis - Event 261
SkyCity Entertainment Group Limited - Update on COVID-19 Impacts and Recent Trading
ANZ announces sale of UDC Finance
Foley Wines Limited Announces Harvest Result, Earnings Outlook and Development in Martinborough
JUST MY VIEW - BRENT KING
BLIS delivers substained profitable growth
Infratil - Full year results announcement for the year ended 31 March 2020
COMVITA LIMITED Announces NZ$50 Million Equity Raising to improve balance sheet flexibility and build resilience
GMT’s delivers statutory profit of $284.4 million before tax

IRG See IRG research reports