New Zealand credit card spending rebounded in March and grew at the fastest pace in five months, data from the Reserve Bank of New Zealand revealed on Tuesday. Total credit card billings grew 3.2 percent monthly in March, after a 2.7 percent drop in February. This was the highest since October last year, when spending gained 10.8 percent. Domestic billings rose 2.2 percent monthly to NZ$3.696 billion, while overseas billings increased to NZ$369 million in March. On a yearly basis, total billings rose 3.4 percent in March, following a 1.1 percent increase in the previous month.
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