New Zealand’s credit card spending declined sharply in April, figures from the Reserve Bank of New Zealand showed on Thursday.
Overall credit card spending decreased 49.4 percent year-on-year in April, following a 9.4 percent drop in the previous month.
On a monthly basis, credit card spending plunged 41.3 percent month-on-month in April, following a 9.7 percent decrease in March. This was the third consecutive decrease.
Domestic billing decreased 39.1 percent monthly to NZ$1.78 billion and overseas billings declined 42.0 percent to NZ$203 million, data showed.