First Data has released its First Data SpendTrend®analysis for the full month of May 2011 compared to May 2010. SpendTrend tracks same-store consumer spending by credit, signature debit, PIN debit, EBT cards and checks at U.S. merchant locations.
Higher unemployment and weaker economic conditions negatively impacted consumer spending in May. Year-over-year dollar volume growth slowed to 6.6%, the lowest monthly growth rate in 2011. Year-over-year transaction growth of 5.1% represented the slowest growth over the past 12 months.
Average ticket values increased 1.4% year-over-year in May, a slight uptick from April and the largest increase in over a year. Excluding gasoline stations, average tickets increased 0.5%. Most industries except food/beverage stores and food services/drinking places saw increased average tickets.
"Card spending growth slowed in May," said Silvio Tavares, SVP and division manager of First Data Information and Analytics Solutions. "High gas prices and stubbornly high unemployment constrained growth in most merchant categories."
|May Transaction Growth||CHANGE||May Dollar Volume Growth||CHANGE|
|Signature Debit||+6.9%||Signature Debit||+6.6%|
|PIN Debit||+1.4%||PIN Debit||+2.6%|
|Note: All transactions are same-store growth.|
For more information on First Data SpendTrend, visit www.firstdata.com/infoanalytics or call SpendTrend Customer Care at 800-430-0169.