Chart, credit cards : more cards but spendings drop

Another sign ! Another bad omen.

The number of credit cards continues to grow… relentlessly (+8,65 % in november, compared to november 2007) with a total of 12 954 658 cards in november (+ 87 279 cards compared to october).

But there is something new : the growth of the total usage (spendings)… is in negative territory for the first time !

-3,74 %, compared to november 2007 (71,76 billions THB versus 74,55 billions THB).

It’s a drop of 6,12 % compared to the previous month (october at 76,44 billions THB).

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(Source Bank Of Thailand, table FI_CB_080_S2)

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