New Zealand's credit card spending growth has decelerated, registering a rise of just 0.5% in April 2025. This marks a slowdown from March's year-over-year increase of 0.7%, according to the latest data updated on May 21, 2025. The figures reflect a tepid pace in the spending growth compared to last year’s corresponding period, indicative of changing consumer dynamics and potentially tightening financial conditions.
The decline in the growth rate over March to April suggests that New Zealanders may be exercising more caution with their spending patterns amidst prevailing economic uncertainties. The year-over-year analysis helps underscore that the spending growth in March also faced hurdles, albeit slightly stronger than the current month's trend.
This slowdown raises questions about consumer confidence and economic outlooks in the wider New Zealand economy as the country navigates through inflationary pressures and fluctuating economic signals. Policymakers and financial analysts will be keenly observing these trends to better understand the underlying factors and to develop strategies that might encourage consumer spending in the months to follow.
