Restaurant and bar spend up 6% from last year

Visa says a week pound may have led to the increase in restaurant sales
Industry
07/08/2017 - 10:05
Spend in UK hotels, restaurants and bars rose by 6% in July compared with the same month a year ago, according to data from Visa’s Consumer Spending Index.

Kevin Jenkins, UK & Ireland managing director at Visa, said: “The sector is likely to have benefited from an early surge in summer staycations, as the weak pound made holidaying at home more attractive.”

The figures revealed that overall consumer spend fell by 0.8% on an annual basis following declines in May and June.

Jenkins added: “Consumer spend fell for the third month in a row in July, the first time overall spending had fallen for three consecutive months since February 2013.

“The figure provides further evidence that rising prices and stagnant wage growth are squeezing consumers’ pockets.’"

One sector to see a rise in spend was e-commerce (3.6%) but face-to-face expenditure fell 3.7% compared with the year before.

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