LONDON: UK shoppers’ spending on their debit and credit cards dropped in 2025 for the first time since the pandemic, according to Barclays data that nevertheless showed people still willing to treat themselves with small luxuries and experiences. The bank said the value of card spending fell 0.2% compared with 2024, a sharp slowdown from last year’s 1.6% growth. Subdued consumption and high levels of savings have been a major drag on the UK economy’s growth rate. A recovery in spending is seen as vital to achieving even the modest growth the budget watchdog has predicted over the coming years. The value of non-essential spending grew by a tepid 0.8%.

Source: The Star December 31, 2025 11:05 UTC