Total credit card balances outstanding flat in Oct, after pre-GST blip up in Sept, RBNZ figures show
19th Nov 10, 4:07pm
by
Outstanding credit card balances in New Zealand were flat in October after a slight blip up in September before the GST increase on October 1, figures released by the Reserve Bank show.
There was NZ$5.36 billion in total credit card advances outstanding at the end of the month, in line with NZ$5.35 billion in September.
Total advances outstanding were up 3.3% from a year ago. There was 3.5% annual growth in September, but October's growth was still higher than any other month since January 2009.
This came as amounts financed, or spent, with credit cards in New Zealand rose by a seasonally adjusted 0.6% over the month, with total billings in October of NZ$2.35 billion.
No chart with that title exists.
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.