Consumer spending rose 7.6% in May compared to the same period in 2019
Consumer spending is increasing the likelihood that the UK economy will spend on Tuesday, as it was revealed that spending 7.6% in May compared to the same month in 2019.
The British began socializing more as the lockdown eased further, so they spent their money on food, drinks and clothes. This is based on a survey released by Barclaycard earlier today.
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Increased spending has been the most important since the start of the coronavirus pandemic in early 2020.
Expenses on essential products increased supermarket shopping, a 17.7% increase, and 69.3% increase in shopping at local specialty food and drink retailers, including butchers and licenses.
The patchy weather at the beginning of May was rarely preventing consumers from returning to stores as consumers increased 5.8% compared to the same month before the pandemic two years ago.
The British jumped 8.6% as clothing sales increased by 8.5%.
Raheel Ahmed, director of consumer products, said: When friends and family reunite after a few months apart, it’s safe to see signs of a recovery in the entertainment and hospitality industry. Both have faced major challenges over the past year. ”
“While international holidays continue to be hampered by restrictions, staying in the UK is welcomed by the travel sector. There is summer and hopefully in the middle of this warm weather, Britons will maximize their new freedoms I hope these positive trends continue as we take advantage of them.”
