Chase Freedom Card Spending Up 4% in Third Quarter

Overall Chase Freedom cardholder spending jumped 4 percent in the third quarter of 2012, compared to the same quarter a year ago, Chase reports.
Spending was strong across most categories, with solid increases in food, back-to-school, and outdoor/leisure expenditures.
The Chase Freedom Lifestyle Index showed a 1 percent increase on a quarter-over-quarter basis, following a sharp increase of 9 percent from the first quarter to the second quarter of 2012.
“Consumers are slowly beginning to open their wallets, based on the steady increases in spending we are witnessing,” said Phil Christian, general manager, Chase Freedom. “The overall trends suggest that consumers are increasing discretionary entertainment and leisure spending on a year-over-year basis, which is a good sign from an economic recovery perspective.”
Here’s a brief overview of third-quarter results from the Chase Freedom indues:
Back-to-school shopping: Spending on apparel/clothing, books, and museums increasing 6 percent in Q3 2012, compared to the same quarter in 2011.
Eating out: Cardholders spent 22 percent more in fast food in Q3 2012, compared to Q3 2011. Restaurant spending was nearly as strong, with a 19 percent year-over-year increase.
Outdoors, sports, and entertainment: Spending on outdoor and leisure activities recorded an overall 8 percent increase, with cardholders spending 8 and 9 percent more at recreational facilities and on sporting goods, respectively, in Q3 2012, compared to the same quarter in 2011.
Consumer electronics: Cardholders spent 8 percent more in Q3 2012 on the latest tech gadgets, compared to the second quarter — despite a 5 percent decrease compared to Q3 2011.

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