The latest statistics released by Spark ATM Systems, a South African independent ATM deployer, reveal that average cash withdrawal values across the country increased in November.
The Spark Cash Index, which measures the average value of withdrawals across more than 1,500 Spark ATM's throughout the country, reflected a 2.18 percent year-on-year increase in November from R412 to R421, while month-on-month cash withdrawal values also reveal a positive increase of 0.72 percent from October to November 2011.
"The increase in the value of cash in circulation for November is in line with the historic trend for this time of the year which is on track to better the highest withdrawal value of R447, recorded during December 2010," said Marc Sternberg, of Spark ATM Systems.
He added that the figures point to an increase in the amount of cash in circulation, which bodes well for retail sales over the last quarter of 2011.
"The SCI is an accurate leading indicator of Stats SA's Retail Trade Sales report, the last value of which was released for the month of September. The increase in the SCI during October and November hints that growth in the RTS should be reflected when these values are released by Stats SA," Sternberg said.
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