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.