October Card Expenditure Statistics in the UK

Thursday 4 December 2003 09:39 CET | News

The run up to Christmas is expected to see £11.3 billion spent on debit cards and £9.6 billion spent on credit cards, up 7.2 per cent and 3.5 per cent respectively on December last year, in figures released today by the Credit Card Research Group.

In figures for card spending in October, also released today, high street spending grew by 7 per cent, led by growth in sales in department stores and other mixed business retailers. Octobers high street spending on credit and debit cards is 4.5 per cent higher than the same period last year. Year on year growth in spending in the services sector was higher, at 16.5 per cent. Within these totals, debit cards account for much of the growth, with spending rising by 13.6 per cent year on year, to £10.4 billion. Growth in spending on credit cards was more measured, increasing 5.3 per cent to £9.3 billion.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: ,
Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce