WELLINGTON, Jan 26 - Credit card billings in New Zealand fell sharply in December, as consumers remained cautious amid a patchy economic recovery and weak labour market.
The Reserve Bank of New Zealand said on Wednesday total billings fell a seasonally adjusted 1.4 percent last month, the biggest drop since April, compared with a 0.1 percent decrease in November.
Billings were 2 percent higher than a year earlier, the lowest annual growth rate since February, from a rise of 3.7 percent in the November year.
Other data this month has shown a 0.9 percent drop in electronic retail card spending in December and a rise in retail sales in November. See and
The Reserve Bank of New Zealand is expected to keep its cash rate steady at 3 percent at its review on Thursday, with the sluggish economy expected to keep rates on hold until at least the middle of the year.
The Reserve Bank of New Zealand said on Wednesday total billings fell a seasonally adjusted 1.4 percent last month, the biggest drop since April, compared with a 0.1 percent decrease in November.
Billings were 2 percent higher than a year earlier, the lowest annual growth rate since February, from a rise of 3.7 percent in the November year.
Other data this month has shown a 0.9 percent drop in electronic retail card spending in December and a rise in retail sales in November. See and
The Reserve Bank of New Zealand is expected to keep its cash rate steady at 3 percent at its review on Thursday, with the sluggish economy expected to keep rates on hold until at least the middle of the year.
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