Westpac’s credit card tracker is firming a little.
The Westpac Card Tracker Index* slipped back a little over the second half of August, declining 1pt to 136.
Looking through the choppy path since the ‘Stage 3’ tax cuts came into effect at the start of July, card activity does look to have gained a little more traction since late July but so far any up-trend looks to be gradual at best.
Quarterly growth momentum is a touch firmer, lifting to a 0.4% pace in the latest week. That compares to contractions through June-July but is still off the stronger pace seen at times earlier in the year and during the second half 2023.
