Trading Room home page

Aussies spent more on credit cards in Dec

Market watch top headlines

Australian reports

World reports

Stocks to watch

AGO, ANZ, WBC, EPW, RHC, RHL, RMD, TCL, WHC,

MELBOURNE, Jan 27 AAP

January 27 2013, 5:42PM

Australians spent more on their credit cards at restaurants and supermarkets in December 2012 compared to one year earlier, the National Australia Banks says.

NAB said on Sunday that its credit card data showed that its customers spent eight per cent more in restaurants and seven per cent more in supermarkets.

The bank said that although overall retail spending rose only one per cent compared to the prior corresponding period, spending at restaurants and on groceries increased significantly.

Spending peaked at supermarkets on Christmas Eve, at almost double the daily average credit card spend compared with the first 23 days of December as people bought groceries at the last minute.

David Berry, NAB's acting general manager of cards and personal loans, said that as well as the average spending increase, the volume of overall credit card transactions was nine per cent in December 2012, compared to December 2011.

"Our data shows Australians were conducting more than two million transactions at restaurants in December 2012, 15 per cent more than the previous December and more than 10 million transactions at supermarkets, 13 per cent more compared to December 2011," he said in a statement.