Australian Credit Card Spending Cools Jets Real Fast in Q1
Australian credit card gross dollar volume (GDV) declined 3.0% year-on-year (YOY) in February. Purchase dollar volume (PDV) increased 1.2% YOY and cash dollar volume (CDV) dipped by 14.5% YOY in February, according to CardData. There had been growing concerns in 2016 credit card spending was slowing down, and now the proof is in pudding for…