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Consumption declines

12/11/2012 14:22
According to new JCC data, the value of transactions of credit cards by Cypriots in the domestic market in October recorded an annual decrease of 7% to €173.5 million. In September 2012, it had recorded an increase of 4%.

This decline is attributable to the downward trend in the use of credit cards in the governmental services, the clothing and footwear sector, the household appliances, the restaurants and the food products. Excluding the government services, the decline in the use of credit cards did not exceed 1.4%.
An increase was observed in utilities, fuel, schools and colleges.

The number of transactions by Cypriots in October rose 1% to 2.5 million.

In the first ten months of the year, the value of credit card use by Cypriots in Cyprus rose 5% to €1860.7 million.

The use of credit cards by Cypriots abroad for the same month surged, as a result of the internet purchases.

Credit card transactions by Cypriots abroad surged 11% to €125.2 million.

The number of transactions stood at 970.7 thousand, soaring 10%.

In the first ten months of the year, the value of credit cards by Cypriots abroad rose 10% to €1168.8 million.

As for the non-Cypriots, the value of their credit card transactions increased by 19% to €61.1 million.

For the period January – October 2012, the value of credit card transactions by non-Cypriots in Cyprus soared 14% to €472.4 million.