Spending on Visa cards rises at fastest rate since November

Kasmira Jefford
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CONSUMER spending in April increased by its fastest rate since November, new figures show, as Britons splashed out more on going out and home improvements.

Household spending increased two per cent in the year to April, and by 0.8 per cent on the month, according to Visa’s spending index published today.

Bars, hotels and restaurants was the strongest performing sector thanks to consumers going out over the Easter weekend, with spending up by 7.8 per cent on the year.

Spending on household goods was also strong, up 2.8 per cent, while recreation and culture increased by 2.1 per cent year-on-year.

Economist Annabel Fiddes from information services group Markit said: “The positive expenditure trends are in line with an array of positive economic data for the UK, with unemployment at a multi-year low, wages starting to rise in real terms and a further improvement in consumer confidence.”