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UK Heatwave, World Cup Snap Consumers Out Of Winter Gloom: Visa

Published on Jul 16 2018 8:00 AM in Retail tagged: Featured Post / UK / Visa / Consumers / Brexit / Paywall

UK Heatwave, World Cup Snap Consumers Out Of Winter Gloom: Visa

British consumers picked up the pace of their spending in June for the second month running, the first back-to-back increases in over a year, a survey showed on Monday, another sign that the economy is past its weak start to 2018.

Payment firm Visa said inflation-adjusted spending on its credit and debit cards was 0.7 percent higher than in June last year, helped by warm weather and the soccer World Cup, following a 0.9 percent increase in May.

Number Of Factors

Mark Antipof, chief commercial officer at Visa, said a heatwave and the World Cup had led to particularly strong increases in spending in restaurants and bars.

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