Icelandic credit card turnover surges abroad

Icelandic credit card turnover abroad was ISK 18 billion the first half of 2005, a 36% year-over-year increase. The turnover last month was ISK 3 billion, a 38% increase from the same month last year. Credit card usage for the same period increased by 20%. The research department at Íslandsbanki points out that higher turnover vs. usage means that consumers are either buying more expensive products or that more is being purchased at once.