Data discoveries of the week, presented in charts. This week, we throw light on the US fed rates expectation, credit and debit card spending in US households, performance of Silver with Stocks during Recessions, top credit card issuers in India and more.
- RBI released its Provisional data for ATM, Acceptance Infrastructure and Card Statistics for the Month of February 2023. These are the top credit card issuers by share and numbers
As per RBI data for February 2023, India had a total of over 8.3 crore credit cards?. Here's the latest market share of issuers??#chartoftheday #creditcard pic.twitter.com/r36hKHt6mC
— Kuvera (@Kuvera_In) April 13, 2023
2. According to data by the National Payments Corporation of India (NPCI), UPI saw a huge surge as monthly transaction volume crossed 8.7 billion in March 2023, a massive 60 % growth over Feb. In terms of value, UPI reached ₹14.05 trillion, a growth of 46%. In FY 2022-23, UPI saw ~ 84 billion transactions (up 82% from last year), amounting to ₹139.09 trillion (up 65% from last year). We chart a 6-month value and volume trend
In March 2023, UPI processed a whopping 8.65 billion transactions, the highest since its inception. ?? a look at 6 months of UPI value and volume trends.#upitransactions #chartoftheday pic.twitter.com/kIvt9BVSdA
— Kuvera (@Kuvera_In) April 12, 2023
3. Gross GST revenue collected for March 2023 was ₹1,60,122 crore, the 2nd highest collection ever. India also saw monthly GST revenues of > ₹1.4 lakh crore for 12 months in a row. The gross revenues in 2022-23 were 22% higher than that last year. A look at state-wise GST collections for March 2023.
For the 4th time this FY, the gross GST collection crossed ₹1.5 lakh crore mark. See state wise collections??#chartoftheday #gstcollections pic.twitter.com/nM8fK9vx4S
— Kuvera (@Kuvera_In) April 7, 2023
4. These countries have the largest proven coal reserves.
Top 10 countries with the largest proven coal reserves ??#coal #chartoftheday pic.twitter.com/jqhVpJJp5y
— Kuvera (@Kuvera_In) April 10, 2023
5. Interest expense on US Public Debt touched $812 billion by Dec 2022. Continuing on the same trajectory, it could soon surpass Social Security as the largest expense of the US govt.
The Interest Expense on US Public Debt rose to $812 billion over the past year, a record high. If it continues to increase at the current pace it will soon be the largest line item in the Federal budget, surpassing Social Security. pic.twitter.com/9ySrUulukV
— Charlie Bilello (@charliebilello) April 12, 2023
6. Comparing the performance of Silver with Stocks during Recessions 
Silver vs. Stocks: Comparing Performance During Recessions ?https://t.co/qu1bmX4z2j pic.twitter.com/dhYtU17psh
— Elements (@VCElements) April 11, 2023
7. The 20-year trend of the purchasing power of USD shows a ~40% fall.
The loss of the purchasing power of $1 over the last 20 years is stunning. Put every dollar to work for you that you possibly can, and in a way that protects your purchasing power. pic.twitter.com/3ckUJ1jK2I
— Peter Mallouk (@PeterMallouk) April 12, 2023
8. For 2023, the EPS estimate for S&P 500 is $216, down $2 from 2022.
For 2023, the consensus earnings-per-share estimate for the S&P 500 is $216, down $2 from 2022. The recovery for 2024 is expected to be swift, gaining $25 to $243. If the US economy is headed toward a recession later this year, those estimates are likely too optimistic. pic.twitter.com/tUtherlAse
— Jurrien Timmer (@TimmerFidelity) April 12, 2023
9. US Money market fund AUM surges above $5.1tn, its highest ever.
"the next bubble…money market fund AUM surges above $5.1tn, up >$300bn past 4 weeks; prior 2 surges '08/'20 coincided with big Fed cuts"
BofA's Hartnett pic.twitter.com/gwK055JBZn
— Jonathan Ferro (@FerroTV) March 24, 2023
10. US headline inflation fell to 5.0% in March, while core consumer price inflation ROSE to 5.6%.
BREAKING! US Headline #Inflation fell to 5.0% in March, below expectations.
Core #CPI ROSE to 5.6%, matching expectations. pic.twitter.com/76khVom0dH
— jeroen blokland (@jsblokland) April 12, 2023
11. UK could avoid recession, but growth still crawling
The latest data shows Britain’s economy is still extremely sluggish. https://t.co/aLTEPw9nZe pic.twitter.com/i6BcAdUbK9
— Financial Times (@FinancialTimes) March 15, 2023
12. Where in India did #SharkTank pitches come from?
So cool that #Pune comes right after the big three – Mumbai, Delhi (NCR) and Bengaluru in this. I would wager @namitathapar's 'Mai Pune se hu' dialogue would've perked up applications from the city. This is from today's Mint. @aparanjape https://t.co/oueMv1DRq3 pic.twitter.com/FlUqOX5Mt5
— Neil Borate (@ActusDei) April 13, 2023
13. Here’s what the market expects the US Fed rate would be. Looks like it expects another hike before a pause and fall.
Little change in Fed Funds Rate expectations after the better-than-expected inflation report.
Market still pricing in 1 more 25 bps rate hike in May (to 5.00-5.25%) followed by a rate cut in July (to 4.75-5.00%) and continued cuts throughout the remainder of the year and 2024. pic.twitter.com/84ck0rADJ1
— Charlie Bilello (@charliebilello) April 12, 2023
14. BoFA data credit and debit card spending per US household.
"Bank of America credit and debit card spending per household moderated further in March, to 0.1% year-over-year (YoY), the slowest pace since February 2021. Sequentially, card spending per household fell 1.5% month- over-month (MoM), seasonally adjusted." BofA pic.twitter.com/SK82eeS0v1
— Sam Ro ? (@SamRo) April 12, 2023
15. We sign off this week with this incredible picture. Here’s what it took to store 5MB of data in 1966! These are punch cards.
All of that is only 5MB of data in 1966. pic.twitter.com/Z8aGpgrINH
— World Of History (@UmarBzv) April 12, 2023
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