20/08/2003 15:47
According to JCC figures released on Wednesday, domestic credit card transactions by Cypriots have showed an increase of 13% for the period January-July 2003, totaling CYP 285 million. This increase compares unfavourably to the increase recorded in 2002 and 2001, which amounted to 21% and 24% respectively and reflects the overall slowdown in consumer demand.
The slowdown for July was smaller, as the total credit card transactions for the month increased by 15% to CYP 50 million against the corresponding month of 2002. The corresponding increase reported in 2001-2002 and 2000-2001 were 18% and 26% respectively.
On the other hand, credit card transactions by Cypriots abroad soared 16% for January-July 2003 and 10% for July compared to shrinkage in the previous period.
Credit card transactions by tourists in Cyprus have showed an increase of 2% for January-July 2003 compared to last year’s significant increase and the impressive increase for the period 2000-2001.
CYSTAT data showed that retail sales for the period January-May 2003 dropped by 2.3%.
The slowdown for July was smaller, as the total credit card transactions for the month increased by 15% to CYP 50 million against the corresponding month of 2002. The corresponding increase reported in 2001-2002 and 2000-2001 were 18% and 26% respectively.
On the other hand, credit card transactions by Cypriots abroad soared 16% for January-July 2003 and 10% for July compared to shrinkage in the previous period.
Credit card transactions by tourists in Cyprus have showed an increase of 2% for January-July 2003 compared to last year’s significant increase and the impressive increase for the period 2000-2001.
CYSTAT data showed that retail sales for the period January-May 2003 dropped by 2.3%.
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