Spending on plastic up 7.1%

| March 26, 2010 | 0 Comments
Spending on plastic up 7.1%<br />

Money spent by UK consumers using credit and debit cards increased 7.1% in February compared to the same month last year.

The figures released by Barclaycard follow a 3.6% rise in January 2010 compared to January 2009.

However, the data also showed a drop in spending on cards between January and February of 2.5%.

Stuart Neal, head of UK Payment Acceptance, said the small drop in February is “typical” as the January sales tail off.

He added that the overall rise on year is good news for retailers.

“The numbers show that things are looking up for retailers this year,” he said.

“The small drop from last month is typical of what we see at this time of year and is caused by the residual effects of the January sales and households returning to a more regular spending pattern.”

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