Wealthy to increase spending

High earners are determined to spend their way out of recession, a report by HSBC suggests. Spending by people earning over £100,000 per annum is expected to increase by 7.8 per cent this year. Overall spending for this group will increase to £87,380. Spending on one-off purchases will fall by 25 per cent for the £100,000-£150,000 bracket. Yet this group still spends on average over £10,000 a year on one-offs. Areas of increased spending include transport and travel, and home improvements. Affluent consumers are expected to spend an average of £13,946 improving their homes.