UK households cut spending at fastest pace in almost five years, says Barclays

Card Spending Sees Biggest Fall In Almost Five Years Amid Budget Uncertainty

Latest data from Barclays shows credit and debit card spending declined 1.1% year-on-year in November, the largest fall recorded since February 2021 (-9.5%), as uncertainty surrounding the Budget dampened consumer confidence. Essential spending dropped 2.9%, marking the seventh consecutive month of (more…) The post Card Spending Sees Biggest Fall In Almost Five Years Amid Budget Uncertainty appeared first on KamCity.

Card Spending Sees Greatest Fall since 2021 in November - CLH News: Caterer, Licensee and Hotelier News - News for Pubs, Bars, Hotels and Restaurants

Share Post Share Email Consumer card spending declined -1.1 per cent year-on-year in November – the greatest fall recorded since February 2021 (-9.5 per cent), and considerably lower than the latest CPIH inflation rate of 3.8 per cent. Amid ongoing consumer uncertainty, essential spend dropped   -2.9 per cent, marking seven consecutive months of decline, while non-essential spending fell (-0.3 per cent) for the…

FTSE set for hesitant open as households tighten belts pre-Christmas

The FTSE 100 is set for another cautious open on Tuesday as new figures reveal that UK households cut back on pre-Christmas spending at the sharpest pace in four andRead More...

Card spending sees greatest fall since 2021 in November

Consumer card spending declined -1.1% year-on-year in November – the greatest fall recorded since February 2021 (-9.5%), according to The Barclays Consumer Spend report. This is considerably lower than the latest CPIH inflation rate of 3.8%, as consumer confidence remains subdued. Essential spend dropped -2.9%, marking seven consecutive months of decline, while non-essential spending fell (-0.3%) for the first time since July 2024. Overall retai…

UK households cut spending at fastest pace in almost five years, says Barclays

Bank reports 1.1% drop in card spending despite Black Friday boost for retailers UK households cut back on spending at the fastest pace in almost five years last month as consumers put Christmas shopping on hold, according to a leading survey. Adding to concerns that uncertainty surrounding the budget has helped dampen consumer confidence, Barclays said card spending fell 1.1% year on year in November – the largest fall since February 2021. Cont…