UK Card Spending Stabilises

Sunday 12 October 2003 11:01 CET | News

Figures for spending on credit and debit cards in August, released by the Credit Card Research Group, show Britons largely shunned the high street in the summer heat.

While much of the retail sector suffered falling sales, as compared to the same period last year, the food and drink and services sectors showed continued growth in a sign of continued consumer confidence. Growth in spending on debit cards continues to outstrip growth in spending on credit cards. Growth in credit card spending has slowed substantially in the last year, but now seems to have stabilised, at around 5 per cent year on year. In total, £8.8 billion was spent on credit cards in August, a rise of 1.2 per cent on August of last year, with £10.2 billion spent on debit cards - up over 12 per cent.

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Categories: Payments & Commerce | Payments General
Countries: World
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