Aussies happier to use debit cards in February, study shows

By Mozo ·

The uncertain economic climate has forced many Aussies to be extra careful when using their debit cards to pay for goods, but a new study has indicated that the gloom may have lifted slightly.

According to the new Westpac-Melbourne index of Australian consumer sentiment, people across the country are more confident about spending money than they have been for the past few months.

A score of 101.1 was recorded by the organisations in February, which was 4.2 per cent higher than January. This indicated that Aussies may be loosening the purse strings a little bit more.

Indeed, any reading above the 100 mark suggests there is more optimism than pessimism among Aussies.

Westpac's chief economist Bill Evans believes the improvement reflects the two interest rate cuts sanctioned by the Reserve Bank of Australia last towards the end of 2011.

B&T recently reported that online spending is particularly strong down under, as Product of the Year revealed that 80 per cent of Aussies purchased goods via the internet last year.

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