Credit and debit card spending drops in February

0

Spending on credit and debit cards fell slightly last month, but is still up sharply from a year ago, according to the latest credit and debit card statistics from the Central Bank.

Total card spending, including ATM withdrawals, fell 1% or €61 million to €6.9 billion in February compared to January.

However, compared to February 2021, when some public health restrictions were still in place, card spending increased by 30%, or €1.6 billion.

Daily card statistics compiled by the Central Bank show that through March 20 spending was largely unchanged from February.

In-store spending rose 2% in February from January to 3.1 billion euros.

It was up 51% from February last year.

Online spending fell 5% from January to 2.8 billion euros.

That’s up 16% from February last year.

Some of the incremental spending in categories that thrived during public health restrictions, like groceries, was down 3% on an annual basis, while spending on electrical appliances was down 17%.

However, spending on clothing increased by 54%.

Spending on services resulting from restrictions like transport increased by 408%, while spending on accommodation increased by 408%.

Spending in restaurants and restaurants increased by 169%.

Cash has made a partial recovery but its use remains down from the pre-pandemic period.

ATM withdrawals increased by 20% to 972 million euros compared to last year, but remained 28% lower than in February 2020.

Share.

About Author

Comments are closed.