Consumer card spending growth slowed to a three-year low in May as rising household bills and wet weather led to cautious budgeting, figures suggest.
Some 80% reported worries about increasing council tax, followed by broadband and mobile costs , water bills , and dental costs . It comes as 44% said they were reducing their discretionary spending, with takeaways the most common cutback followed by eating out in restaurants . Karen Johnson, head of retail at Barclays, said: “Retailers faced a challenging May, yet the few sunnier days in the month did bring a welcome uptick in footfall.
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