Halifax notes changing patterns in credit card spending

Credit card provider Halifax has published a report noting changing habits in spending in the UK, particularly relating to entertaining at home or in the garden.

The bank reports that the proportion of credit card spending that went on food and drink for consumption in the home increased by seven per cent last week, while eating out also saw a three per cent increase in spending.

Expenditure on home and garden related items increased by five per cent, while money spent on holidays and travelling reduced by five per cent.

According to Halifax, these trends reflect a more “Mediterranean feel” about spending in the UK, as a result of the hot weather that we have been experiencing recently.

“We Brits like to make the most of every minute of sunshine we get and a week of unprecedented temperatures seems to have sent us all dashing out to make the most of it,” said Ian Larkin, head of Halifax credit cards.

While some areas saw increases in expenditure, others therefore saw dips, such as clothes shopping, with the amount spent on this seven per cent less in the third week of July than in the previous week.