Debt Advice Numbers Could Increase If Consumer Confidence Continues To Grow

A recent report by Barclaycard has revealed spending via credit and debit cards rose 9.2% in August compared to the same month last year. This continued the recent spending trend with August being the fourth month in a row to see a rise. The figures are in stark contrast to recent reports suggesting consumers are becoming increasingly conservative in their spending due to impending public sector cuts.

Stuart Neal, head of Barclaycard UK Payment Acceptance, said “While there is some cause for viewing the near future with a certain amount of trepidation, recent indicators are good. Confidence remains relatively high, but it will be important to see how spending fares when public spending cutbacks begin to hit people's pockets, and not just the headlines”.

With large-scale public sector job cuts looming, significant increases in consumer spending now could potentially lead to a rise in the number of consumers seeking debt advice over the course of the next five years.

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