Total credit card costs in New Zealand decreased for the first time in five months in January, information from the Reserve Bank of New Zealand revealed Thursday.
Charge card spending dropped 0.6 percent month-over-month in January, reversing a 0.6 percent increase in December.
Domestic billings likewise decreased 0.6 percent over the month to NZ$ 3.25 billion and overseas billings moved by 0.7 percent.
On an annual basis, charge card spending development relieved to 4.6 percent in January from 6.2 percent in the prior month.
Information also revealed that charge card balances increased at a slower pace of 0.2 percent in January, following a 0.4 percent increase in the preceding month. Yearly development moderated to 5.4 percent from 5.6 percent.
The material has actually been provided by InstaForex Company – www.instaforex.com