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Guam businesses saw credit and debit card transactions slip 1.2 percent in the third quarter from the year-earlier period, according to First Hawaiian Bank’s quarterly business activity report, which was released Thursday.
The report tracks sales activity in 11 different economic sectors, including retail, hotels, home improvement, restaurants and travel activities.
"Seven of the 11 sectors showed positive gains and the top three industry sectors to post the largest gains this quarter were utilities, 17.67 percent; shipping, 16.50 percent; and supermarkets, 10.22 percent," said Laura Dacanay, First Hawaiian senior vice president and Guam/CNMI region manager. "The double-digit decline in retail and travel agencies were likely the result of the weakening yen, which made it more expensive for the Japanese visitors."
First Hawaiian has more than 7,000 merchant locations throughout Hawaii, the mainland, Guam and the Commonwealth of the Northern Mariana Islands and therefore is able to provide a broad measure of economic activity.
Earlier this month First Hawaiian reported that Hawaii’s credit and debit card transactions were up 5.9 percent in the third quarter from the year-earlier period.
First Hawaiian, which has assets of $16.7 billion, was founded in 1858 and is the leading bank in Guam with the largest share of loans and deposits in the region.
