The UK’s hospitality and leisure industry defied of an overall drop in consumer spending in June thanks to a series of mega concerts, but agents didn’t feel quite the same bounce.
Retail spending growth slowed to just 0.2% in June (Credit: Artur Kraft / Unsplash)
Barclays’ latest Consumer Spend Report reveals card spending fell by 0.1% last month, while essential spending contracted by 2.1%.
However, the hospitality and leisure sector bucked the downturn with growth of 2.1% thanks to an 8% increase in spending on entertainment, while live shows and concerts grew by 2.5%, with as many as 18% of British adults saying they would spend money to attend performances by people and bands including Beyonce and Pitbull.
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