Credit card spending in Israel rose strongly in June

Dizengoff Center  / Photo: Cadya Levy, Globes

Credit card spending was up 8.9% in June 2020 compared with June 2019, the Central Bureau of Statistics reports.

There was a large rise in credit card spending by the public in Israel in June as the economy returned to nearly full throttle. According to the Central Bureau of Statistics, credit card spending was 8.9% higher in June 2020 than in June 2019.

Credit card spending on general products and services in June 2020 was 17.9% higher than in June 2019. Credit card spending on industrial products in June 2020 was up 15.8% from June 2019 and on food, drink and catering services credit card spending was up 9.6% in June 2020 compared with June 2019. Only partial figures are available for credit card spending in June 2020 on flight tickets, tourism and accommodation, leisure and entertainment.

In May 2020 when the economy was only partially reopened, credsit card spending was up 3.7% from May 2019 with spending on goods and services up 6%, on food and drink up 2.1% and on industrial products down 1.8%.

In the three months between April and June 2020, credit card spending was up 10.5% on an annualized basis, after rising 11.8% in the January to March period.

In the three months between April and June 2020, credit card spending on computers and software was up 41.4% on an annualized basis.

Published by Globes, Israel business news - en.globes.co.il - on July 29, 2020 © Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Dizengoff Center  / Photo: Cadya Levy, Globes
Dizengoff Center / Photo: Cadya Levy, Globes
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