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Credit card spending down for September

Credit card spending down for September

(14 November 2012 – Australia) Consumers remain wary of keeping money in their pockets, with falling credit card purchases sinking to the weakest level since April according to the Reserve Bank of Australia (RBA). Figures released on Tuesday show purchases on credit cards fell to A$19.5 billion in September from A$21.7 billion in August – the lowest monthly level since April when the total was A$19.49 billion.

Credit card balances also declined in September to A$49.1 billion from A$49.2 billion in August.

While retail sales were positive for September, consumer confidence is worrying even as the festive season approaches.
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