Spend in restaurants grows 9.7%

Spend in restaurants grows 9.7%

Consumer spending in restaurants grew 9.7% year-on-year in February, according to the latest Barclaycard data.

While this is a relatively healthy figure, it is considerably lower than the double-digit growth of 11.4% seen in the same month in 2017.

Rounding up the eating and drinking out sector, pubs also saw a smaller percentage growth, from 13.3% in 2017 to 10.0% in 2018.

Overall, consumer spending growth in February was up 3.8% year-on-year.

“This is the third consecutive month that we’ve seen household spending growth above the prevailing rate of inflation, suggesting that, while consumers remain cautious about their household finances, they continue to strike a balance between spending on essentials and on luxuries,” says Barclaycard managing director Paul Lockstone.