Australian Economy

Credit card spending tanks

David Llewellyn-Smith
Monday 8 July 2024
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Still more signs of consumer weakness. Westpac:

The Westpac Card Tracker Index* declined over the second half of June, falling 2.6pts to 130.2 over the two weeks to June 29. This marks the lowest read in just over a year with the Index recording declines in six of the last eight weeks. 

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.