23 Nov 2017

Credit card spending expected to spike

From Nine To Noon, 9:08 am on 23 November 2017

Credit card spending is expected to spike in the next few weeks as New Zealanders splash out on Christmas presents and holidays. Over the last five years, credit card spending has risen by a third to a whopping $43 billion dollars for the last year. Christmas spending is a major force on Kiwi's credit cards. December sees national sales rising by about $1 billion annually, with credit card spending rising by about $470 million. Kathryn speaks with Westpac Chief Economist Dominick Stephens.