Consumers rushed out to splash the cash in shops, pubs and restaurants after November’s coronavirus lockdown in England ended, resulting in the fastest rate of consumer spending growth this year, according to the latest data tracking bank transactions.
In what is likely to prove a fleeting splurge before tougher tiered restrictions were imposed and spending became more difficult, consumers took advantage of the reopening of non-essential shops and hospitality to increase their spending.
Figures produced by Fable Data, based on card transactions and bank payments, show that consumer expenditure in the UK was up 9.4 per cent in the week ending December 13 compared with the same period a year ago.
Avinash Srinivasan, analyst at Fable Data, said the reopening of the economy “has been met by strong shopper demand”.
Spending in garden centres and in stores selling home goods was up at an annual rate of 37 per cent in the week ending December 13 and, although spending…