Retail card spending ($), March 2020–March 2023

One significant observation in this data is the sharp drop in both actual and seasonally adjusted values in April 2020. The actual transactions dipped from $5.65 billion in March 2020 to $2.87 billion in April 2020, while the seasonally adjusted figures fell from $5.63 billion to $2.97 billion during the same period. This decline can be attributed to the impact of the COVID-19 pandemic, which led to lockdowns and restricted consumer spending worldwide.