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.
No comments yet
NZ dollar eases after another Brexit failure
SkyCity, Fletcher won't name their insurers
NZ stocks smacked by smelter review, SkyCity fire
No govt cash for Tiwai Point - Woods
Strong dairy exports narrow Sept trade deficit
Rio Tinto reviewing future of Tiwai Point smelter
SkyCity convention centre damages dispute murkier after fire
Air NZ ends LA-London service; 155 jobs at risk
Kiwi dollar up against UK pound on Brexit ructions
Contractor retentions regime a lemon, industry told