Yes, there is talk of recession but this is not evident if one looks at credit card shopping habits of Israelis, showing credit card purchases increased by 7% in 2012 as compared to 2011, the Central Bureau of Statistics reports.

The increase in 2011 compared to 2010 was only 3.4% so this past year, 2012, represented twice the growth seen a year earlier.

The biggest increase was seen in purchases abroad and for recreational spending. Credit card spending abroad was up by 10%, primarily used to purchases clothing and gadgets.

(YWN – Israel Desk, Jerusalem)