20.12.201700:57:00UTC+00New Zealand Credit Card Spending Rises Further

Total credit card spending in New Zealand increased for the third straight month in November, data from the Reserve Bank of New Zealand showed Wednesday.

Credit card spending climbed 0.8 percent month-over-month in November, following a 1.0 percent rise in October.

Domestic billings grew 0.6 percent over the month to NZ$3.4 billion and overseas billings rose by 2.1 percent.

On an annual basis, credit card spending growth quickened to 9.1 percent in November from 3.0 percent in the prior month.

Data also showed that credit card balances increased at a stable rate of 0.8 percent monthly in November.

Yearly, credit card balances climbed at a faster pace of 6.3 percent in November, following a 5.2 percent gain in the preceding month.