UK Card Expenditure Statistics: December 2016
Total card spending in December 2016 was £56.5 billion, an increase of £500 million on November, and up from £52.2 billion in December 2015.
- The number of card purchases increased and reached a record monthly total of 1.3 billion, up by 13 million (1.0 per cent) on November, in part a reflection of the Christmas shopping season and discounts on offer
- Retail card spending in December stood at £25.5 billion, an increase of £81 million on November. There were 834 million transactions in December 2016, an increase of 5.1 million
- The entertainment sub-sector was a strong contributor to growth, increasing by £71 million to £5.1 billion, mainly due to higher spending at restaurants and pubs
- The annual growth rate of the number of purchases (10 per cent) continued to outstrip the growth rate of spending 4.2 per cent), which highlights the growing consumer preference to use cards for lower-value payments.
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