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).



(Source Bank Of Thailand, table FI_CB_080_S2)

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Thailand Crisis

Coup, Economic slowdown, Terror In the South... The situation is worsening in Thailand. Bumpy road like often before.

But this time, it's different.

The key to understand the present turmoil is the inevitable... succession of King Bhumibol.

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