Business
Consumer spending slows in January
The slow in spending is set to be ‘somewhat mitigated’ by anticipated uplifts from Valentine’s Day, more inbound tourism, and consumers spending more on activities and experiences
Consumer card spending rose by only 7.4% in January compared to the same period in 2020, marking the smallest uplift since April 2021, as spending was dampened by ongoing Plan B restrictions, inflation, and rising energy costs.
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