First Data has released its First Data SpendTrend analysis for the full month of February 2013 compared to February 2012.
Dollar volume growth slowed to 4.6% year-over-year compared to January’s growth of 6.2%. A combination of factors such as higher payroll taxes, a delay in federal tax refunds and high gasoline prices restrained spending and forced shoppers to reassess their spending budgets. Major winter storms across much of the country and the unseasonably cold weather throughout the South also weighed on shopper foot traffic. Transaction growth slipped to 3.5% in February compared to 5.3% last month.
SpendTrend tracks same-store consumer spending by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks at U.S. merchant locations.