Australian credit card gross dollar volume (GDV) soared 12.6% year-on-year (YOY) in January. Purchase dollar volume (PDV) sharply increased 13.0% YOY and cash dollar volume (CDV) inched up by 2.4% YOY in January, according to CardData.
There had been growing concerns in 2016 credit card spending was slowing down, however the momentum has shifted.
GDV rose in January to AU$25.4 billion, compared to a revised AU$28.5 billion in the prior month and a revised AU$22.5 billion one-year ago.
PDV increased in January to AU$24.6 billion, compared to a revised AU$27.7 billion in the prior month and a revised AU$21.7 billion one-year ago.
CDV increased YOY in January to AU$782 million, compared to a revised AU$758 million in the prior month and a revised AU$764 million one-year ago.
CONSUMER CREDIT CARD GDV
Jan 2016: AU$22527 million
Feb 2016: AU$25924 million
Mar 2016: AU$26222 million
Apr 2016: AU$24156 million
May 2016: AU$26767 million
Jun 2016: AU$26242 million
Jul 2016: AU$24323 million
Aug 2016: AU$27604 million
Sep 2016: AU$26115 million
Oct 2016: AU$26373 million
Nov 2016: AU$27849 million
Dec 2016: AU$28451 million
Jan 2017: AU$25370 million
CONSUMER CREDIT CARD PDV
Jan 2016: AU$21763 million
Feb 2016: AU$25061 million
Mar 2016: AU$25367 million
Apr 2016: AU$23370 million
May 2016: AU$25908 million
Jun 2016: AU$25389 million
Jul 2016: AU$23511 million
Aug 2016: AU$26768 million
Sep 2016: AU$25334 million
Oct 2016: AU$25575 million
Nov 2016: AU$27053 million
Dec 2016: AU$27693 million
Jan 2017: AU$24588 million
CONSUMER CREDIT CARD CDV
Jan 2016: AU$764 million
Feb 2016: AU$863 million
Mar 2016: AU$855 million
Apr 2016: AU$787 million
May 2016: AU$859 million
Jun 2016: AU$853 million
Jul 2016: AU$812 million
Aug 2016: AU$836 million
Sep 2016: AU$781 million
Oct 2016: AU$797 million
Nov 2016: AU$795 million
Dec 2016: AU$758 million
Jan 2017: AU$782 million
Source: Reserve Bank of Australia
