Aussies 'are starting to spend more'

Mozo

Friday 18 March 2011

There are definite signs that Aussies are using their debit cards and spending money again, recent figures suggest.

Aussies 'are starting to spend their cash again'

According to the Commonwealth Bank of Australia (CBA) Business Sales Indicator, transactions using plastic at point-of-sale terminals rose by 0.5 per cent last month.

This is "the first clear sign" that Aussies are starting to spend their money again rather than put it into savings accounts, according to executive general manager of local business banking for the CBA Matt Comyn.

"Spending is coming back online … businesses are starting to see the benefit of consumers opening up their wallets," he observed.

Despite this, Ross Gittins recently noted in an article for the Age that Aussies are becoming increasingly disciplined about their use of plastic.

He observed that in the 12 months leading up to January this year, personal debt in Australia only increased by two per cent, news that might tempt some to compare debit cards online.

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