Hospitality Today Aug-Sep 2016 - Page 16

E ating O ut ... 16 | Hospitality Today | Aug/Sept 2016 Ormer Mayfair & - Trends Consumer spending weak in second quarter Visa’s UK Consumer Spending Index for June, shows consumer spending slowed amid economic and political uncertainty. The Index reflects overall consumer spending, not just that on cards. Key findings were: • Growth in consumer spending held close to May’s 27-month low (+0.9% year-on-year) • The slowest increase in spending at Hotels, Bars & Restaurants since January 2013 (+3.3%) News - • E-commerce spending rises at a faster pace (+4.6%), while face-toface expenditure falls for the second month in a row (-1.3%) Kevin Jenkins, UK & Ireland MD at Visa commented: “All eyes will be on consumer spending data as we assess the outcome of the referendum. With the result coming late in the month, this report doesn’t give the full picture but there’s a clear trend over recent months showing a slowdown in overall growth. The Index shows that discretionary spending has been the worst affected area.