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First Data Releases July 2011 SpendTrend

By Mercator Advisory Group
August 10, 2011
in Analysts Coverage
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SpendTrend data for July reinforce the tentative nature of consumer spending, and noted some important changes in direction. Year over year growth for same-store consumer spending declined from 8.8 percent in June to 7.3 percent in July. Higher growth categories centered on discount rather than discretionary retail.

July Transaction Growth CHANGE July Dollar Volume Growth CHANGE
Credit +5.3% Credit +7.4%
Signature Debit +7.8% Signature Debit +7.0%
PIN Debit +5.1% PIN Debit +7.5%
Check -12.3% Check -8.1%

Of particular note, credit card spending growth dropped from a robust 10.7 percent in June to 7.4 percent in July. The Fed’s G19 reading on consumer revolving credit outstanding was also very strong in June; July spending trends suggest that the July reading on outstandings may drop as well.

Click here for more: http://www.cnbc.com/id/44075459

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