Finance
UK consumer spending disappointed in November, surveys show
Published by Global Banking & Finance Review®
Posted on December 9, 2025
2 min readLast updated: January 20, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on December 9, 2025
2 min readLast updated: January 20, 2026
UK consumer spending dropped in November amid budget anticipation. Black Friday sales were disappointing, reflecting economic uncertainty.
By Andy Bruce
MANCHESTER, England, Dec 9 (Reuters) - British consumers kept a tight rein on their spending in November as they awaited finance minister Rachel Reeves' budget, while retailers said Black Friday sales disappointed, according to surveys on Tuesday.
Barclays said spending on its credit and debit cards fell by 1.1% in annual terms in November, the biggest drop since February 2021 when the COVID-19 pandemic still raged.
A separate survey from the British Retail Consortium (BRC) trade body showed spending at big retailers rose by 1.4% in annual terms last month, the slowest growth since May.
The surveys chimed with other indicators showing a weakening consumer economy. Official data showed retail sales fell sharply in October and the Confederation of British Industry said confidence among chains of stores hit a 17-year low last month.
"November was a month marked by uncertainty, as consumers were awaiting seasonal discounts and the details of the Autumn Budget," said Karen Johnson, head of retail at Barclays.
Reeves announced 26 billion pounds ($35 billion) of tax increases in her November 27 budget, although there was no increase to the main rates of income tax as had been expected for much of the month.
The BRC said computing and household appliance sales looked better than last year's Black Friday promotion period, but non-food sales growth was minimal overall.
"Rising household costs and nervousness about the economy continue to impact discretionary buying," said Linda Ellett, UK head of consumer, retail and leisure at accountants KPMG, who sponsor the BRC survey.
"But retailers will be hoping that budget clarity has now provided more certainty for consumers about their ability to spend in the months ahead," she added.
The Barclays data covered card spending between October 25 and November 21, while the BRC survey spanned November 2 to November 29. Black Friday fell on November 28.
($1 = 0.7511 pounds)
(Reporting by Andy Bruce; editing by David Milliken)
The British Retail Consortium (BRC) is a trade association that represents the retail industry in the UK. It provides insights and data on retail performance and trends.
Black Friday is a shopping event that occurs the day after Thanksgiving in the United States, marking the start of the holiday shopping season. It is known for significant discounts and promotions.
Discretionary spending refers to non-essential expenditures that consumers make, such as entertainment and luxury items. It contrasts with necessary spending on essentials like food and housing.
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