Commonwealth Bank: February credit card spending flat

Spending on debit and credit cards was flat in the month of February, new research shows.

Consumer retail spending remained fairly flat last month, new research shows.

Statistics recorded by Commonwealth Bank (CB), which tracks expenditure on debit and credit cards, found an increase of only 0.1 per cent in the value of transactions throughout February.

Spending was strongest in the service provision sector, which registered a rise of 1.8 per cent.

This, according to Craig James, chief economist at CB broking subsidiary CommSec, is proof people are shelling out more to make themselves feel and look better.

"The personal service providers' category includes hairdressers, spas and beauty salons," he explained. "The pick-up in the sector may be driven by an improvement in the job market, as applicants try to present themselves in the best possible light."

Overall, it was agreed consumers are still playing it safe when it comes to spending, given the instability of some Aussie credit levels and the economic slowdown still affecting many regions across the globe.

CB currently operates over 1,000 branches throughout Australia.

By Mark Hornby