Pubs and restaurant spend soars amid mixed summer
Spending in pubs and restaurants has soared after a slowdown in general consumer spending, according to the latest Barclaycard data.
Overall, spending in September was up compared with a bad August, in which spending slipped to its lowest level for 14 months.
The success of pubs and restaurants is also bucking the wider spending trend, with overall spending for the third quarter of the year actually up by just 3.7% (compared with 4.5% in the second quarter). Barclaycard has suggested that this drop could represent "a pausing for breath" by consumers ahead of the run-up to Christmas.
The report also found that the majority of consumers feel positive about their ability to spend on discretionary items in the upcoming quarter, meaning that the downturn is likely to be a temporary blip.
Indeed, 30% of consumers said they were better off now than they were expecting to be a year ago, and 52%, said that they were confident in their job security (up from 48% in Q2).
Barclaycard reports collect and analyse data from credit and debit card transactions in the UK, across spending in the clothing, entertainment and grocery sectors.
Chris Wood, Barclaycard chief operating officer, said: "Whilst the Rugby World Cup helped spend growth recover in September, it remained below both the level of increase we saw last year and the average level we've seen this year. Consumers seem to be 'pausing for breath' before the run-up to Christmas begins."
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