Story perspectives

Card Spending Plummets Amid Budget Jitters and Black Friday Hype

12/9/2025

Summary

Story summary

Card spending fell 1.1% year-on-year in November, the largest decline since February 2021.
The drop reflects uncertainty surrounding Finance Minister Rachel Reeves's budget announcement, weighing on consumer confidence.
Black Friday transaction volumes rose 62.5% above an average day, but overall sales growth remained disappointing, especially in non-food categories.
The British Retail Consortium attributed pre-budget jitters to weaker shopper sentiment, contributing to a lackluster shopping season.
Experts say the economic recovery will depend on public policy that boosts consumer confidence and supports retailers.

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Story summary

Card spending fell 1.1% year-on-year in November, the largest decline since February 2021.
The drop reflects uncertainty surrounding Finance Minister Rachel Reeves's budget announcement, weighing on consumer confidence.
Black Friday transaction volumes rose 62.5% above an average day, but overall sales growth remained disappointing, especially in non-food categories.
The British Retail Consortium attributed pre-budget jitters to weaker shopper sentiment, contributing to a lackluster shopping season.
Experts say the economic recovery will depend on public policy that boosts consumer confidence and supports retailers.