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Kiwi's credit card spending eases

Kiwi’s credit card spending eases

(24 April 2013 – New Zealand) Credit card spending eased slightly last month after a strong February, according to Reserve Bank of New Zealand (RBNZ) figures.

The data shows domestic spending on locally issued cards totalled NZ$2.39 billion (A$1.96 billion), down a seasonally adjusted 0.3 percent compared to February.

Total credit card spending in New Zealand - on locally and overseas-issued cards - was NZ$2.74 billion, up 3.6 percent on March last year but down 0.3 percent on February on a seasonally adjusted basis.

The dip in spending is in line with data from eftpos network provider Paymark and Statistics New Zealand, both of which reported spending falls last month due to Easter wiping out two trading days.

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