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UK consumer spending falls sharply in Christmas week -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Shoppers carry umbrellas while they walk on Oxford Street, London. This was after the spread of coronavirus (COVID-19) in December 2016. REUTERS/Toby Melville

LONDON, (Reuters) – British consumers’ spending on debit and credit cards dropped sharply during the week ending Dec. 30, according to figures that were not adjusted for seasonality released Thursday by the Office for National Statistics.

Spending on cards fell 40 percent from the prior week, to 86% of the average in February 2020 (pre-COVID-19).

According to the ONS, “This fall seems broadly consistent with seasonal effects.”

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