As our economy is right in the middle of a general election that no-one seems to be able to call, we can see that it is also on the rise again. Perhaps our troubles are going away after all and Gordon Brown has done some good after all? Our credit card spending would certainly seem to suggest that this is the case…
Although the figures are from BArclaycard, i don’t suppose they have anything much to gain by lying to us. They show us that there has been 9% increase since this time last year in credit card spending. This has to be good news.
What can this mean? Well, it depends on where you stand really. Many people are saying that the rise in credit card spending is a natural process that people go through that shows a recovery from Christmas expenses. However, this would signify a more “back to normal figures” in my opinion, since the rise is compared with last year, not before Christmas.
So we don’t need to look at it from the Nay sayers! We must embrace the rise in credit card speding as an indication that the economy is truly recovering. It may be recovering slowly, but quite frankly i’d prefer a slowly recovering economy any day. This way people’s confidence in things like credit card spending will be greatly sustained. If there was a sudden boost i think people would remain wary!
Tags: Credit card news, credit card spending, News