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Consumer confidence hit 12-month high last month as online retail boom continues

March 10, 2021

Via: Charged

Consumer spending fell by nearly 14 per cent last month despite consumer confidence in the economy rising to its highest level in a year.

According to the latest figures from payments giant Barclaycard, spending dropped 13.8 per cent in February, including a 22.1 per cent drop in non-essential spending.

This was offset by a 5.3 per cent growth in spending on essential items, boosted by a 17.4 per cent jump in supermarket spend.

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