Spend in restaurants up by 13% in November, according to Barclaycard

06 December 2016 by
Spend in restaurants up by 13% in November, according to Barclaycard

Research from Barclaycard has shown that spend in pubs and restaurants is continuing to grow, up 14.2% and 13.5% respectively in November.

Although consumer concerns over the economy is expected to lead to a slowdown in spending, there was little sign of this last month. Travel spend rose by 6%, following a dip in October.

A strong performance by pubs and restaurants has been contributed to the colder weather, which drove people indoors to socialise with friends and family.

In October, 81% of consumers approached by Barclaycard thought that changes in inflation would cause the price of everyday goods to rise in the next year. Only 33% expressed confidence in their household finances.

Paul Lockstone, managing director at Barclaycard, said: "November was another strong month for consumer spending growth, the second-highest level we've seen this year. Whilst some pockets of discretionary spending, such as that on entertainment, was up again by double-digits, most noticeable was the amount households are spending on day-to-day necessities, with supermarket shopping and petrol hitting an all-time high.

"Though there is little visible evidence of households yet being forced to decide between filling up the car or eating out with friends, the narrowing gap between essential and non-essential spend growth means they may need to look more carefully at how they allocate their cash once Christmas is out of the way."

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Spending growth in hotels, bars and restaurants slows in June >>

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