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Westpac: Card Activity Shows More Tentative Signs Of Softening


Westpac note that their “Card Tracker Index has continued to nudge higher in February, rising 2pts to 143.1 from 141.2 at the end of January. The index now looks to be largely clear of the residual seasonality relating to the big swings in activity over the Christmas-New Year period. The latest update suggests nominal spending growth continues to hold in the 2-2.5% Q/Q range although transaction volumes tentatively suggest growth in real, inflation-adjusted terms may be seeing a more pronounced slowing.”

MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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