Consumer confidence at record high, says Barclaycard

Consumer confidence levels have reached a record high, according to Barclaycard, which revealed that UK consumer spending rose 3.6% in Q3.

The quarter was boosted by strong growth of 4.2% in both August and September, following a 2.6% increase in July.

As such, consumer confidence has now reached the highest level since Barclaycard began tracking it in 2014, with 48% of people saying they fell upbeat about the UK economy, up from 34% who said the same in Q2, before the EU referendum.

In September, leisure time in restaurants and pubs contributed to the rise in spend, with 14.9% and 17.3% spending on these experiences respectively.

Barclaycard’s findings are based on the organisation processing nearly half of all the nation’s credit and debit card transactions.

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