The Westpac-DataX Card Tracker Index rose to 158.5 in the week ended Dec. 12, reaching near the top of the range seen since September and up a "solid" 5.3 points on October-November averages, according to a Monday Westpac report.
The bank said that quarterly growth momentum remains robust, tracking in the 1.3% to 1.6% range in recent weeks, easing a touch from the strong 1.9% gain recorded in the third quarter but still broadly maintaining the firmer pace seen since mid-2025.
Monthly growth momentum has eased after a strong September, with recent readings back in the 0.1% to 0.7% month-on-month range, though this slowdown remains tentative amid heightened seasonal volatility through November-January, the report added.
Card activity momentum has slowed across the services sector, mainly for discretionary services such as travel, while growth has remained steady across goods categories.
The bank said that state performance is diverging, with a sharp slowdown in consumer-related card activity in Victoria, where quarterly growth has stalled, while New South Wales has seen a milder but noticeable moderation. In contrast, quarterly momentum has held steady at a robust pace in South Australia and has accelerated to a strong 2.7% to 2.8% pace in Queensland and Western Australia.
The bank called the Black Friday and Cyber Week sales turnout "solid" but unspectacular, as total card activity across discretionary goods categories was up around 5% on the same period last year, and clothing and footwear were notably stronger.
While positive, annual growth was broadly in line with card activity more generally and with pre-existing trends, as sales were up on last year but do not look to have outperformed, the report added.
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