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Credit card spending in Singapore has grown only slightly over the last two reported months, according to the Credit Bureau of Singapore, a joint venture between The Association of Banks in Singapore and DBIC Holdings Pte Ltd. Average credit card spending in July was S$4,483 (US$3,200 or 2,100 euros), up 0.2% from S$4,473 during the same month last year. In August, average credit card spending was S$4,489, up 1% from S$4,446 a year earlier. "The increase in credit card spending is in line with the clear but modest recovery that is under way in the local and global economy," Credit Bureau of Singapore chief executive William Lim said in a statement. "It reflects improving consumer confidence that the economy and job markets are in recovery phase."
