New Zealand Credit Card Billings Rise In July

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Friday, a report by the Reserve Bank of New Zealand said the total card billings rose 0.1% month-on-month in July, after growing 0.2% in the preceding month. This was the second consecutive month of increase in billings.

Billings on domestic cards fell 0.2%, after remaining flat in the preceding month, while the billings on overseas cards rose 2.5% compared to a 1% increase in June.

Year-on-year, the total credit card billings fell 2% year-on-year in July, following a 2.1% fall in the preceding month. The total credit card billings declined for the ninth consecutive month in July, on an annual basis.

Domestic card billings were down 2.8% from the previous year, while overseas card billings rose 4.5%.

(Market News Provided by RTTNews)