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Indian credit card spending fell 9% in February, hitting a seven-month low, yet up 12% year-over-year.
Credit card spending in India fell 9% in February compared to January, reaching a seven-month low of Rs 1,672 billion ($215 billion).
Despite this decline, spending was up 12% from February 2024.
The report by stock market firm ACMIIL notes that the slowdown in spending and smaller average transaction sizes indicate cautious consumer behavior, possibly due to tax planning and the absence of major spending triggers like festivals in February.
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El gasto de las tarjetas de crédito indias cayó un 9% en febrero, alcanzando un nivel bajo de siete meses, pero subiendo un 12% año tras año.