Bulletin

Double boost for household spending

The ONS has reported that a rise in disposable income last year helped spending on recreation to rise by an average of 6.8%, with overall household expenditure up by 1.4%. Cars, computers, garden plants and sports were how Britons chose to spend their spare cash as the economic recovery and lower energy bills gave them an unexpected boost. Giles Horsfield, editor of the ONS Family Spending report, said: 'After years of decline we have started to see household spending rise as the economic recovery spurs consumer confidence. This includes items families have been putting off purchasing in recent years, such as new cars.' While the pace of recovery in household expenditure slowed in 2014, the improvement contributed to a rise of almost 5% over the two years since 2012. Spending on food has been level since 2011, partly because of the rise of discount supermarket chains, but spending on restaurants and hotels has begun to rise.

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander

Other Articles

This International Women’s Day, our analysis reveals a continuing untapped potential and huge opportunity when it comes to women in…

London

London-based ACT Clean has secured private investor backing for a £10.2 million management buyout.

Bulletin
Spain

Santander takes 12 UK food and drink manufacturers to Spain on one of our successful trade missions. Adam Payne in the international team…

This International Women’s Day, our analysis reveals a continuing untapped potential and huge opportunity when it comes to women in…

London

London-based ACT Clean has secured private investor backing for a £10.2 million management buyout.

Bulletin
Getting a taste for Spain!

Santander takes 12 UK food and drink manufacturers to Spain on one of our Trade Missions. Alicia Ferrero Vega in the International team…

Bulletin

Where Next?