• Of money

• Our money

And sometimes the celebration continues: record spending for Israelis on credit cards

Israelis' spending on credit cards in June reached new highs: According to the ISA, spending during the previous month amounted to NIS 34.7 billion, an increase of 18.3% compared to last year.

Tags

• credit cards

• ISA

• Online shopping

• Expenses

Walla!

Of money

Monday, 12 July 2021, 09:07 Updated: 09:48

• Share on Facebook

• Share on WhatsApp

• Share on general

• Share on general

• Share on Twitter

• Share on Email

0 comments

Data from the Shebaa (Automatic Banking Services) Company, the director of the national credit card payment system, indicate new records in expenses incurred by Israelis on credit cards. Cash withdrawals from bank ATMs also increased in the past

month

.

18.28% in credit card expenses compared to June 2020. In the calculation of daily credit card expenses June 2021 is a record month in terms of Israelis' credit card expenses, which stood at a daily average of NIS 1.158 billion.

This is a 1.58% increase in daily credit card expenses compared to March 2021 in which a daily expenditure of NIS 1.140 billion was recorded.

Good to know (promoted)

B-Cure Laser - Does It Really Help Eliminate Pain?

To the full article

Buy more online, an increase of more than 25% (Photo: ShutterStock)

Spend more than before the corona

During June 2021 the Israelis took credit cards totaling 34.732 billion compared with the sum of 29.364 billion issued in June 2020, the days when the first blockade was lifted and Prime Minister Benjamin Netanyahu called on Israelis to "do life" ...

amount higher in June 4.2% of the amount the Israelis spent in May, which stood at NIS 33.332 billion.

Even when comparing data from before the Corona period, it turns out that Israelis spend much more on credit cards: in June 2019, the total amount of expenses on credit cards reached NIS 26.853 billion.

This figure joins several other data that indicate peak activity in the economy precisely against the background of expectations of a certain slowdown (despite the release of the economy from most of the corona restrictions) due to the decline in global economic activity in the corona year and the increase in unemployment. State tax revenues have increased, economic activity in cash and credit has risen and demand for mortgages is at its peak.

Regarding the 25% increase in online shopping, it is quite possible that the news about the expected abolition of the VAT exemption is what pushed Israelis to advance purchases, especially of fashion items.

Celebrating life: a record in almost all indices that represent activity in the economy (Photo: ShutterStock)

• Share on Facebook

• Share on WhatsApp

• Share on general

• Share on general

• Share on Twitter

• Share on Email

0 comments