Cyprus credit card spending leapt by 8% y/y in October

Credit card spending by locals accelerated in October according to data from the credit card company JCC.
Local plastic card use by Cyprus residents increased by 8% over the year earlier to EUR 153,276,113 (EUR 153mln) in October, having risen by 2% in September and 4% in August.
In the period January-October, credit card spending by locals was up by 3% to EUR 1.6 bln. Local card spending fell by 3% in 2009 as a whole.
Expenditure by foreigners in Cyprus also leapt, rising by 10% to EUR 50.1 mln in October, having declined by 14% in September and risen by 9% in August.
For the first ten months of the year, spending by foreigners was up by 5% to EUR 382.9 mln.
In 2009 spending by non-residents had fallen by 16% to EUR 412 mln.
Expenditure abroad by Cypriot residents continues to record an increase.
Residents of Cyprus spent EUR 971.1 mln abroad in the first ten months of the year quarter, a rise of 13% compared with the same period of 2009.