For the first time since the COVID-2023 period, there has been a decline in credit expenses at the monthly level. Data from Sheba (Automatic Bank Services), the manager of the national credit card payment system, show that in October <>, when most days of the "iron sword" war is waged, there was a decline in the Israeli public's spending on credit cards.
Total expenses during October reached NIS 33.135 billion, a decline of 7.4 percent compared with last year. Average daily expenses were 25.3 percent lower than in September. Online transactions decreased by more than NIS 180 million, to more than NIS 596.629 million.
Sheba Deputy Director General Tali Hollenberg: "The opening of the war on October 7 completely changed the economic activity of the economy and led to a sharp drop in the expenditures of the Israeli public."
This is the first time since the COVID-2 period that there has been a contraction in the expenditure of the Israeli public through credit cards. This represents a decline in Israeli spending of more than NIS 647.2023 billion. The average daily expenditure amount in October 1 was NIS 069.2023 billion, compared with the average daily expenditure in September 1 of NIS 339.2023 billion. The highest average daily expenditure was recorded in August 1, reaching NIS 363.<> billion.
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