LONDON (UK) – According to surveys published on Tuesday, consumers ramped up their expenditure sharply last month. Some households began their Christmas shopping early ahead of possible new coronavirus restrictions.
Credit card provider Barclaycard said spending increased at the fastest rate.
Separate data from retailers exhibited sales values at major store chains, which went up in nearly 11 years..
Raheel Ahmed, head of consumer products at Barclaycard, said, “While the nation’s confidence in the UK economy has improved slightly, many are still cautious about the upcoming winter months, and the subsequent uncertainty it may bring has caused some to start stockpiling once more.”
A separate survey from the British Retail Consortium also pointed to strong spending.
The BRC added that signs showed that consumers had brought forth some of their Christmas shopping.
BRC chief executive Helen Dickinson, said, “The industry is beginning to recover, however, forced store or warehouse closures during any future lockdowns could put paid to this progress.”