UK card spending slowed last week, ONS says
LONDON (Reuters) – British consumer spending on credit and debit cards slowed last week after a rebound the previous week when a public holiday boosted spending, while restaurant reservations also fell, the Office for National Statistics said on Thursday.
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LONDON (Reuters) – British consumer spending on credit and debit cards slowed last week after a rebound the previous week when a public holiday boosted spending, while restaurant reservations also fell, the Office for National Statistics said on Thursday.
Card spending in the week to May 12 fell to 104% of its pre-pandemic February 2020 average level, the ONS said, down 6 percentage points from the previous week.
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The card spending figures are neither seasonally nor inflation adjusted. Adjusting for inflation, card spending last week was around 94% of its February 2020 average, according to a Reuters calculation.
(Reporting by Andy Bruce; editing by David Milliken)