Printer Friendly

JULY CONSUMER SPENDING BY CHECK UP 4 PERCENT; AUTO-RELATED SALES ON TOP WITH 14.8 PERCENT INCREASE

    TAMPA, Fla., Aug. 5 /PRNewswire/ -- Equifax Check Services/Telecredit announced today that consumer spending by personal check in July 1993, compared to July 1992, is up 4 percent.
    July's results are a significant improvement over June's results which were up over the previous year only .4 percent.  This analysis is an ongoing research effort to create an index of check purchases at more than 7,000 retail outlets throughout the United States.
    The results by region are:
    -- Eight (8) State Northeast Region -- up 7.8 percent
    -- Ten (10) State Midwestern Region -- up 4.9 percent
    -- Ten (10) State Mountain Region -- up 1.8 percent
    -- Five (5) State Western Region -- down 2.6 percent
    -- Seventeen (17) State Southern Region -- up 6.8 percent
    The results by industry are:
    -- Auto related -- up 14.8 percent
    -- Specialty retail -- up 10.3 percent
    -- Home furniture, appliances, electronics -- up 1.6 percent
    -- Apparel/accessories -- up 3.3 percent
    -- General merchandise -- down 5 percent
    (Individual state results are available upon request.)
    Florida represented the largest gain, up 15 percent, a reflection of the economic rebuilding from last year's Hurricane Andrew.  This gain is an improvement over last month's gain of 10.3 percent.
    California represented a decline of 2.7 percent, which is a slight improvement over last month's decline of 3 percent.
    Other large sample states include:
    -- Florida - up 4 percent
    -- Ohio - up 1 percent
    -- Texas - up .4 percent
    Comparing July 1992 to July 1993, these results are consistent with the Conference Board's Consumer Confidence Survey results.  Their survey also shows that July 1993 is down from June 1993 results.
    Equifax Check Services, a division of Equifax Financial Information Services, is the largest check authorization company in the United States providing services to more than 100,000 retail points of sale. In 1992, Equifax Check Services authorized more than $11 billion. Equifax Inc. (NYSE: EFX), employing more than 12,000 people throughout North America and the United Kindgom, is the leading provider of information and services for consumer financial transactions.  Revenues for the year ending Dec. 31, 1992, were more than $1.1 billion.
    -0-             08/05/93
    CONTACT:  Tina F. Black, public relations manager of Corporate Public Affairs of Equifax, 404-885-8124 or, home, 404-233-9134
    (EFX) CO:  EQUIFAX CHECK SERVICES/TELECREDIT; EQUIFAX INC. IN:  FIN ST:  GA


-- AT012 -- X332 08/05/93
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 5, 1993
Words:387
Previous Article:AMERICAN RESIDENTIAL POSTS $707 MILLION IN JULY LOAN ORIGINATIONS; PIPELINE OF LOANS IN PROCESS AT RECORD LEVELS
Next Article:SCIENTIFIC-ATLANTA REPORTS RESULTS FOR FOURTH QUARTER AND 1993 FISCAL YEAR
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters