Credit card spending drops 9.45%

By The Nation

Credit card spending in January dropped 9.45 per cent on year to Bt75.3 billion, as consumers tightened their belts to cope with the economic crisis, according to the Bank of Thailand.

The bank said domestic spending through the credit cards in the month slid 10.27 per cent on year, while spending at overseas counters also declined 4.92 per cent. Advance cash withdrawals also fell 7.57 per cent.

However, outstanding credit card debts rose 4.53 per cent on year to Bt183.9 billion. This is in line with the increase in the number of credit card accounts to 13.02 million.

Credit card spending drops 9.45%

Credit card spending in January dropped 9.45 per cent on year to Bt75.3 billion, as consumers tightened their belts to cope with the economic crisis, according to the Bank of Thailand.

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