Pub and restaurant spending ‘strong’ during 2018

04/01/2019 - 09:45
Pub and restaurant spending remained ‘strong’ in 2018 despite a ‘tumultuous year for consumer spending.’

Barclaycard revealed that pub expenditure grew by 11.2% and restaurant by 8.7%.

Overall spend in comparison grew by 4% (up from 3.5% in 2017), which was ‘boosted by a modest uplift in non-essential spending.’

It claims factors such as extreme weather and wider political and economic uncertainty resulted in a series of shifts in purchasing patterns.

Barclaycarddirector Esme Harwood commented: “Spending remained relatively robust in 2018, with strong growth in entertainment spending balancing continued struggles on the high street.

“The weather played a key role, with the long hot summer driving spending, while the colder weather kept consumers from the shops earlier in the year.   

“Ongoing political and economic uncertainty has begun to have a marked impact on how people feel about their finances.

“Confidence in the UK economy and confidence in household finances both dropped to their lowest levels in October and November respectively.

“Looking ahead, it will be interesting to see how consumers respond to the January sales and what impact the wider environment will have on household budgets and consumer confidence in the New Year.”

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