Consumer spending on the High Street looks set to continue growing in the coming months but holiday spending on credit cards may fall, new research claims.
People expect to spend a total of £904 on their plastic during the three months to the end of September, the third quarter in a row credit card spending has increased, according to Morgan Stanley.
The rise is made up of an expected increase in spending on DIY, clothes, food, presents and buying cinema, theatre and concert tickets online.
The biggest increase is expected to come from home improvements, with people expecting to spend £117 on DIY, more than twice the £52 they spent during the first quarter of the year.
Compared with the first three months of this year, people also expect to spend 11 per cent more on food at £183, five per cent more on clothes at £60, 12 per cent more on presents at £42 and 50 per cent more on online tickets at £28.
Wednesday July 30, 2003
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