FX.co ★ New Zealand Credit Card Spending Drop the Most in A Year

Seasonally adjusted electronic card transactions in New Zealand declined by 1.1% month-over-month in January 2026, a sharper fall than the 0.3% decrease recorded in December. This was the steepest monthly drop since January 2025, driven by lower spending across several categories, including consumables (-0.9%), durables (-1.7%), hospitality (-2.1%), and fuel (-3.7%). By contrast, spending on apparel (0.6%), motor vehicles excluding fuel (0.2%), and services (1.9%) increased. On an annual basis, total electronic card spending rose 0.4% in January, rebounding from a 0.5% decline in December.