High Street

Consumer spending slows in January

The slow in spending is set to be ‘somewhat mitigated’ by anticipated uplifts from Valentine’s Day, more inbound tourism, and consumers spending more on activities and experiences 

Consumer card spending rose by only 7.4% in January compared to the same period in 2020, marking the smallest uplift since April 2021, as spending was dampened by ongoing Plan B restrictions, inflation, and rising energy costs.

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