Takeaway expenditures up 11.4% as restaurant spending slumps

Overall consumer spending grew by 3.9%.

For three consecutive months, restaurant spending has fallen, down 3.5% year-on-year in January, whilst takeaway and fast food expenditure saw a 11.4% growth.

Based on Barclaycard’s latest report on nearly half of the UK's credit card transactions, overall consumer spending last month rose by 3.9%, emphasizing on food and fuel during the winter season.

Supermarket spending picked up by 3.7%, whilst fuel payments increased by 4.3%.

Four in ten Brits also say they have an “upbeat” about the country’s economic prospects, which the credit card firm hailed as the most positive figure it has reported since 2016.

However, over half of consumers (51%) believed that the pace of economic growth could decline in the following months.

Meanwhile, more than half of consumers (56%) also intended to change their spending behaviour as they become more conscious of their environmental impact.