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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World NZ credit card billings jump in January - RBNZ Reuters - Monday, February 21 Send IM Story Print WELLINGTON, Feb 21 - Credit card billings in New Zealand jumped by their largest amount in nine years in January, suggesting some pick up in consumer spending amid a patchy economic recovery and weak labour market, data showed on Monday. The Reserve Bank of New Zealand said total billings rose a seasonally adjusted 3.8 percent last month, the best monthly gain since December 2001, and compares to a downwardly revised 1.7 percent decrease the month before. Billings were 5.6 percent higher than a year earlier, the best annual rise since May 2008, from a revised gain of 2.1 percent in the December year. Earlier this month, electronic retail card spending in January showed its biggest rise in five years with a seasonally adjusted rise of 2.4 percent driven by higher spending on furniture, appliances, food and fuel. See The January data contrasts with fourth quarter retail survey, which showed falling retail volumes, raising the prospect the economy slipped back into recession in the fourth quarter. Last week the ANZ-Roy Morgan consumer confidence survey showed a sharp decline in consumer confidence with households nervous about the near term outlook and remaining cautious about spending. The weakness in domestic activity has been a factor in the RBNZ keeping its cash rate steady at 3 percent for the past four reviews. It has said it will keep rates low until it sees signs of a robust and sustainable recovery, and most analysts see no rate rises before September at the earliest. Recommend Send IM Story Print Related Articles Thai economy returns to growth in fourth quarter AFP - 25 minutes ago China looks abroad in deciding on yuan -official Reuters - 37 minutes ago Vietnam devaluation negative for banks -Moody's Reuters - 40 minutes ago S. Korea wins $1.8 major order for container ships AFP - 40 minutes ago BRIEF-Moody's confirms/dwngrds L-JAC8 Trust Certificates (CMBS) Reuters - 41 minutes ago News Search Top Stories Ink-jet printers inspire scientists to make skin US researchers defend animal testing Oral sex linked to cancer risk Extreme tides flood Marshalls capital Planet could be 'unrecognizable' by 2050, experts say More Top Stories » ADVERTISEMENT Most Popular Most Viewed Planet could be 'unrecognizable' by 2050, experts say Oral sex linked to cancer risk Mourinho home joy as Real close gap on Barca Britain's Fergie 'not invited to royal wedding' More Libya fighting amid fears of 'catastrophe' More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2011 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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