UK consumer card spending growth hits 15-month high in October, Barclays says
SPY•UK consumer card spending rose 2.3% year over year in October, its strongest growth in 15 months, but remained below 3.6% CPIH inflation.
1. Spending growth accelerates
Barclays’ Consumer Spend report showed card spending growth accelerating from 2% in September to 2.3% in October. Essential spending rose 3.1%, including a 22.7% jump in fuel spending; retail spending increased 0.5%, while entertainment spending surged 13.9%, its strongest growth since September 2024. Confidence in the UK economy fell to 23% from 26%, and confidence in spending on non-essentials dropped to 50% from 54%.
