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Consumption goes up

07/12/2010 12:54
The use of credit cards went up in November, boosting estimates for an improvement of the consumer climate.

According to new JCC data, the value of credit card transactions by Cypriots in the domestic market rose 3% to €146 million.

The number of transactions surged 7% to €2.1 million.

In the first eleven months of the year, the value of those transactions recorded an increase of 3% to €1694.7 million.

Most credit cards were used in super markets (20.4%), followed by those in other retail trade goods (11.85%) and clothing goods (11.58%).

Similarly, the use of credit cards by Cypriots abroad in November soared 13% to €102.4 million.

Their number rose 9% to 804.8 thousand.

For the period January – November 2010, their value of transactions surged 13% to 1073.5 million.

As for the non-Cypriots, the value of their credit card transactions in November climbed 24% to €33.3 million.

The number of transactions for the same month increased by 10% to 283.4 thousand. For the period January – November 2010, the value of transactions by non-Cypriots in Cyprus showed an increase of 6% to €412.2 million.