16 Jan 2025

ANZ reports slight dip in credit card spending

4:08 pm on 16 January 2025
Close-up hand asia woman people work in small sme coffee cafe shop store owner use cashless wifi paywave nfc scan app smart pos reader sale in take out food drink order in urban city life contactless.

Photo: 123RF

ANZ Bank says spending using its cards fell 0.6 percent last month on the year earlier, with a drop in discretionary spending as well as housing-related items.

New Zealand's largest bank says spending on tourism-related categories fell 8 and a half percent in December on the year earlier, with every category of tourism sector spending down.

Housing-related spending was down more than 6 percent with weak construction and renovation activity the main reason for the drop.

Discretionary spending also fell about 1 and a half percent, with spending on restuarants and bars showing a marginal improvement.

However, spending on household necessities, such as utilities and insurance was up.

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