Economic Buzz: New Zealand Credit Cards Billings Rise 3.2% In July

19 Aug 2022 , 01:48 PM

According to the Reserve Bank of New Zealand, the seasonally adjusted total billings in New Zealand were $4.2 billion in July, a rise of 3.2 percent from June. Seasonally adjusted domestic billings on New Zealand issued cards were $3.8 billion in July, a rise of 0.9 percent from June. Seasonally adjusted total advances outstanding at the end of July were $5.9 billion. Compared with one year ago, advances outstanding were down 4.7 percent from $6.2 billion. Billings in New Zealand on overseas issued cards (actual) rose to $0.4 billion ($377 million) in July. The highest value recorded in a month since March 2020. Total credit limits were $21.3 billion (not seasonally adjusted), similar to June. Total credit limits were 3.4 percent lower than July 2021 and the lowest since April 2015. Powered by Commodity Insights