Barclays credit card spending drops for first time since 2024

Britons Cut Back Spending as Cost of Living Fears Deepen Across UK

UK card spending fell 0.1 per cent in April, the first annual drop since November 2024Travel spending dropped sharply as households cut back on non-essential purchasesFuel spending surged 10.4 per cent amid fears of another energy price shockBritons appear to be tightening their wallets again as fears over the Middle East conflict and rising energy prices begin to weigh on household confidence across the UK.Fresh spending data from Barclays sugg…

Consumer spending dips as shoppers prioritise the basics - although fashion and wellness hold up - InternetRetailing

UK consumer spending dipped slightly in April, falling by 0.1% compared with the same time last year, according to the latest Barclays Consumer Spend report. This is the first drop since November and indicates that, with prices still rising faster than spending, households are tightening budgets. Much of the spend that did come through was on essentials. Fuel stood out, with spending jumping 10.4% — the biggest rise in well over a year — helping…

Barclays credit card spending drops for first time since 2024

Consumers using Barclays credit cards cut their spending for the first time in 18 months in the latest sign of turmoil facing the global economy. Total spending with Barclaycard was down 0.1 per cent year-on-year marking the first drop since November 2024, where Brits were feeling the pinch of Labour’s first Budget. Consumers mainly drew back on non-essentials with a fall 0.3 per cent. But essential spending grew 0.3 per cent, with a major drive…

UK households cut back spending at fastest rate in 18 months, Barclays says

Dip in credit card spending in April, particularly on travel, suggests Britons preparing for harder times amid Iran war fallout Households cut back on their spending in April at the fastest pace in 18 months, as the conflict in the Middle East provoked fears of another cost of living crisis, a report from one of the UK’s biggest banks has suggested. Barclays, which processes nearly 40% of the UK’s credit and debit card transactions, said its dat…