THE average cash withdrawal declined in January by 8,97 percent to R407 a transaction
This is from a record average withdrawal of R447 in December, according to Spark ATM Systems.
In December, consumers took a breather from the austerity of the past couple of years and, fuelled by record low interest rates and a more positive economic outlook, gave retailers and the hospitality industry a welcome revenue boost, Marc Sternberg, MD of Spark ATM Systems, said yesterday.
This was reflected in the record Spark Cash Index value of R447 recorded in December, up from the previous record of R434 in December 2009.
"January is, however, the month when consumers are forced to cut back after the Christmas excesses and this is reflected in the January Spark Cash Index, which tracks patterns in consumer withdrawal behaviour through Spark ATM System's national network of ATMs," he said.
Cash withdrawals down last month
THE average cash withdrawal declined in January by 8,97 percent to R407 a transaction
This is from a record average withdrawal of R447 in December, according to Spark ATM Systems.
In December, consumers took a breather from the austerity of the past couple of years and, fuelled by record low interest rates and a more positive economic outlook, gave retailers and the hospitality industry a welcome revenue boost, Marc Sternberg, MD of Spark ATM Systems, said yesterday.
This was reflected in the record Spark Cash Index value of R447 recorded in December, up from the previous record of R434 in December 2009.
"January is, however, the month when consumers are forced to cut back after the Christmas excesses and this is reflected in the January Spark Cash Index, which tracks patterns in consumer withdrawal behaviour through Spark ATM System's national network of ATMs," he said.
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