Proprietary Reports with Analysis on Australia Consumer Credit Card Spending.
Australian credit card gross dollar volume (GDV) dropped 1.0% year-on-year (YOY) in April. Purchase dollar volume (PDV) decreased 2.2% YOY and cash dollar volume (CDV) sunk by 11.4% YOY in April.
There were growing concerns in 2016 credit card spending was slowing down, but after a brief spike in March the erosion in spending continues in the second quarter of 2017.
GDV decline in April to AU$25.1 billion, compared to a revised AU$29.8 billion in the prior month . . .