Latest statistics released by the Spark Cash Index (SCI), which measures the average value of cash withdrawals across more than 2 200 Spark Automated Teller Machines (ATMs) throughout South Africa, showed an increase in ATM withdrawal levels for December 2013.
The SCI revealed a month-on-month increase of 2.97% in average cash withdrawal figures for December 2013 to R 506.92.
Ryan Tzamtzis, Operations Executive of Spark ATM Systems, says that the increase is in line with consumer spending for this time of the year. The high cash withdrawal value is as a result of additional festive season spending. Interestingly, the month-on-month increase for December 2013 was significantly smaller than that for the same period last year, and indicates that consumers exercised caution with their spending over this festive season.
Farming, wholesale, retail, petrol and leisure sites all recorded month-on-month and year-on-year increases. The farming sector recorded both the highest month-on-month increase of 7.10% and the highest year-on-year increase of 22.28%.
See the full report here