22 Dec 2010

November credit card billings flat

7:50 am on 22 December 2010

Credit card billings in New Zealand were flat in November, after rising for the previous three months.

Reserve Bank data shows seasonally-adjusted total billings were unchanged last month, after a rise of 0.6% in October.

Billings were 3.8% higher than a year earlier, compared with a 4.6% rise for the October year, which was the highest annual growth rate since March.

The data suggests consumers remain cautious after a surge in spending to beat the rise in GST on 1 October.