Consumer spending slowed for the third straight month in June and was weakest in the South, according to First Data Corp.’s First Data SpendTrend report.
Consumers remained cautious in June with dollar volume growth of 6.8 percent, the report noted.
Credit transactions were up only 0.1 percent, while signature debit transactions jumped 11.4 percent and PIN debit transactions rose 10.4 percent. Total transactions increased 7.3 percent.
The Southern region, which includes Florida, was the worst performing region in the United States with dollar volume growth of 3.8 percent in June. That marked the lowest year-over-year growth rate for the South since October 2009. In June, retailers posted their lowest year-over-year dollar volume growth in 2010 of 5.2 percent. Average tickets declined 0.5 percent.
