significant slowdown - The average daily volume of credit card use was NIS 848 million, 10% decrease

The closure continues to deepen the decline in consumption data, according to recent data on the volume of credit card use in the past week published by the Bank of Israel.
The data show a significant slowdown in all sectors of the economy. The average daily volume of credit card use was NIS 848 million, a decrease of 10% compared to the pre-crisis period. In the previous week, the average daily use was NIS 1.09 billion (an increase of 11% compared to the pre-crisis period).
In examining the various industries, the decrease in expenditure on education and leisure of about 50% in the volume of credit card use compared with pre-crisis data is particularly noticeable, while in the previous week the expenditure in this industry was only 19% lower than pre-crisis data. Recall that the days are the weekdays of the time when a record of expenses in these areas is usually recorded.
In addition, the decrease in the volume of expenses in the tourism industry continues to deepen, with a 60% decrease in the use of credit cards in this area compared to the pre-crisis. This is a continuation of a downward trend that began a few weeks ago since the August holidays ended. It was during this period that the tourism industry was supposed to record strong data again due to the holidays, but it continues to be one of the industries most severely affected by the current closure, which forces them to close their operations completely.
The downward trend in the restaurant and fuel and transportation industries also continued to deepen this week. In the restaurant industry, the volume of credit card use in the past week was 55% lower than in the pre-crisis data, while in the fuel and transportation industry, the volume of credit card use this week was 47% lower than in the pre-crisis data. In the previous week in these two industries, there was a decrease of about 30% compared to pre-crisis data.
Consumption in the food industry has also shrunk and stands at only 11% more than pre-crisis data, while in the last two weeks consumption in this industry has been higher than 20% compared to pre-crisis data.
There was also a significant slowdown in the electricity, clothing and furniture industries: data from the last week are 44% lower than in the pre-crisis period, after last week they were only 10% lower than in the pre-crisis data.