New Zealand Credit Card Spending Climbs 1.3% In August

Overall credit card spending in New Zealand was up a seasonally adjusted 1.3 percent on month in August, Statistics New Zealand said on Tuesday – following the 0.2 percent decline in July.

Retail credit card spending advanced 1.1 percent on month, exceeding expectations for a gain of 0.5 percent following the 0.1 percent drop in the previous month.

Core retail spending (excluding vehicle-related industries) rose 1.3 percent in August, after a 0.4 percent fall in July.

In actual terms, retail spending using electronic cards was NZ$5.3 billion, up 2.8 percent (NZ$147 million) from August 2018.

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