Credit card billings in New Zealand fell in October from the same month a year earlier in the first annual decline in three years.
Total billings in New Zealand shrank 0.9 per cent to a seasonally adjusted $2.7 billion last month from October 2011 as spending on overseas cards shrank by a quarter, according to Reserve Bank figures.
Last year's local billings on foreign-issued cards were bolstered by an influx of visitors for the Rugby World Cup.
Local billings on New Zealand issued cards rose 2.9 per cent to $2.42 billion in October from a year earlier, and were up 0.5 per cent on a monthly basis.
Earlier this month, government data showed spending on credit and debit cards rose 4.6 per cent to $5.61 billion in October from a year earlier, led by increases spending on fuel and vehicles.
