Credit Growth Accelerates

The latest numbers from First Data’s March SpendTrend report, which tracks aggregate same-store sales activity in the United States, shows a slight acceleration in credit card volume growth on a month-over-month basis.  Year-over-year, volume grew +8.1% versus +7.9% last year for the month of February. Consumer spending growth grew considerably in March to 6.0% year-over-year, up from 4.6% in February.

Credit Growth Accelerates - creditgrow1

First Data attributed the strength in March to markdowns on winter clearance items, retail dollar volume growth and holiday-related spending for both Easter and Passover. 

Credit Growth Accelerates - creditgrow2