RBNZ recently released credit card data, interesting "total billings" on credit cards now pretty much back to 2019 levels and up MoM and YoY. Nz are further along in rate rises and inflation, is this a read through to Aus? CCP noted the US is also at pre covid levels of spending as well. Aus is still down 1/3 on spending which is quite interesting given peer countries are pre covid. Anyone got any theories? Still eating through savings in Aus? BNPL? I wonder come Christmas expenses if that might change?
https://www.rbnz.govt.nz/statistics/series/lending-and-monetary/credit-card-spending
RBNZ recently released credit card data, interesting "total...
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