Barclays: UK card spending growth rises to 2% in July as consumer confidence hits 21-month high - BCS News | RalliesBarclays: UK card spending growth rises to 2% in July as consumer confidence hits 21-month high
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BCS• July consumer spending and confidence data
- Barclays’ July consumer spend analysis showed UK card spending rose 2% year-on-year, below CPIH inflation of 2.8%.
- Essential spending increased 2.9%, non-essential spending rose 1.6%, pointing to modest real-terms pressure on discretionary demand.
- UK economic confidence climbed to 30%, a 21-month high, while confidence in the European economy rose to 35%, the highest since 2015.
- Hospitality and leisure spending gained 2.2%; pub transaction volumes jumped 10%, signaling event-driven support for services demand.
- Travel spending slipped 0.3%; airlines fell 6% while accommodation rose 2.6%, indicating continued preference for domestic breaks.
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