Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


NZ credit card spending has first annual drop in 3 years

NZ credit card spending in October shows first annual drop in three years

Nov. 21 (BusinessDesk) - Credit card billings in New Zealand fell in October from the same month a year earlier in the first annual decline in three years.

Total billings in New Zealand shrank 0.9 percent to a seasonally adjusted $2.7 billion last month from October 2011 as spending on overseas cards shrank by a quarter, according to Reserve Bank figures. Last year's local billings on foreign-issued cards were bolstered by an influx of visitors for the Rugby World Cup.

Local billings on New Zealand issued cards rose 2.9 percent to $2.42 billion in October from a year earlier, and were up 0.5 percent on a monthly basis.

Earlier this month, government data showed spending on credit and debit cards rose 4.6 percent to $5.61 billion in October from a year earlier, led by increases spending on fuel and vehicles. Credit cards accounted for about 44 percent of transactions that month.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Final Frontier: Rocket Lab And NASA Sign Commercial Space Launch Agreement

Rocket Lab has signed a Commercial Space Launch Act Agreement with the National Aeronautics and Space Administration (NASA). The agreement enables Rocket Lab to use NASA resources - including personnel, facilities and equipment - for launch and reentry efforts. More>>

ALSO:

Scoop Business: Wheeler Downplays Scope For ‘Large’ Rates Fall

Reserve Bank governor Graeme Wheeler says some market commentators are predicting further declines in interest rates that would only make sense for an economy in recession, although some easing is likely to be needed to maintain New Zealand’s economic growth. More>>

ALSO:

Ruataniwha Dam: Consent Conditions Could Mean Reduced Intensity

Legal advice sought by the Hawke’s Bay Regional Council on the Ruataniwha Dam consent conditions has confirmed that farmers who sign up to take water from the dam could be required to reduce the intensity of their farming operation to meet the catchment’s strict nitrogen limit. More>>

Health And Safety: Bill Now Sees Rules Relaxed For Small Businesses

Health and safety law reform sparked by the Pike River coalmine disaster has been reported back from the industrial relations select committee with weakened requirements on small businesses to appoint health and safety representatives and committees. More>>

ALSO:

Bearing Fruit: Annual Fruit Exports Hit $2 Billion For First Time

The value of fruit exported rose 20 percent (up $330 million) for the June 2015 year when compared with the year ended June 2014. Both higher prices and a greater quantity of exports (up 9.0 percent) contributed to the overall rise. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news