In a surprising turn of events for the New Zealand economy, the growth rate in credit card spending has seen a drastic drop, with the indicator stalling at 0.2% for September 2025. This marks a significant decline from the previous month's 3.3% growth reported in August. The data, which was last updated on October 21, 2025, reflects a noticeable slowdown in consumer spending via credit cards.
This dramatic shift comes into sharper focus when viewed on a year-over-year basis. In contrast to last year when September witnessed substantial spending activity, the current indicator highlights a potential hesitancy among consumers towards leveraging credit for their purchases. This is particularly noteworthy considering the August growth reflected a more robust consumer confidence in comparison to the same month last year.
The downturn in credit card spending growth may signal broader economic caution among New Zealand's populace or possibly a reaction to evolving market conditions. Market analysts and policymakers will likely be keen to examine the underlying factors contributing to this slowdown and its potential implications for the broader economic landscape in the months ahead.
