ADVERTISEMENT
Economy

May consumer spending growth highest since April 2017

In-store consumer spending in May led to an increase of 5.1% in consumer spending, the highest level of growth recorded since April 2017.

Barclaycard’s data revealed in-store spending grew 2.6% as consumers experienced good weather that encouraged them to go out to the shops.

Related Articles

The report also said non-essential expenditure grew 4.6% with clothing’s first increase since June 2017 (2.9%), pubs (12.5% overall) and garden centres’ strong performances.

Director of Barclaycard, Esme Harwood, said: “Although a degree of caution remains, UK shoppers felt confident enough to let themselves enjoy the sunny weather in May. This brought good news for the high street as Brits updated their wardrobes – with growth on clothes going up by the highest amount in two years – and took to pub gardens to enjoy the blue skies.”

According to Harwood, consumers’ plans on major music and sporting events will enable the economy to “remain a top priority” in the future.

She added: “In the next few months, we expect to see families carefully balancing their budgets to ensure they don’t miss out on their must-see and must-do experiences of the summer.”

Back to top button