The Reserve Bank of New Zealand said the total credit card billings fell 2.3% year-on-year in September, in contrast to the 0.1% rise in the preceding month. This is the tenth decline recorded in credit card billings in the past 11 months.
In September, domestic card billings dropped 2.7% on a yearly basis, faster than the 0.2% fall in the previous month. At the same time, overseas card billings increased 0.7%, slower than the 2.5% growth in August.
On a monthly basis, total card billings were down 1% in September, in contrast to the 1.6% rise in August. The decline comes after three months of increases.
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