- English card expenditure on travel grew by 1.7pc year-on-year in October
- The figure decelerated from 2.0pc in September and 3.1pc in August
- Total travel transaction volumes grew by just 0.9pc
- Essential spending climbed 3.1pc driven by a 22.7pc surge in fuel spending
- All five Barclays consumer confidence measures declined in October
English card expenditure on travel grew by just 1.7pc year-on-year in October down from 2.0pc in September and 3.1pc in August according to Barclays consumer spending data. While English travel spending recorded its fourth consecutive month of positive growth the pace of expansion slowed as household budgets tightened and consumer confidence dipped ahead of the Autumn Budget. Total travel transaction volumes grew by just 0.9pc.
Travel agents recorded 2.4pc spend growth down from 3.2pc in September and 4.4pc in August. Airlines recorded 1.4pc spend growth down from 2.2pc in September with transaction volumes falling 1.6pc. Hotels, resorts and accommodation recorded 0.5pc spend growth with transaction volumes falling 1.9pc.
Total English consumer card spending rose 2.3pc year-on-year in October marking a 15-month high though it remained below the CPIH inflation rate of 3.6pc. Essential spending climbed 3.1pc driven largely by a 22.7pc surge in fuel spending after diesel prices exceeded £2 per litre for the first time. All five Barclays consumer confidence measures declined in October ahead of the Chancellor’s Autumn Budget on 28 October with confidence in the English economy falling to 23pc.
