Credit Card Spending Falls
New figures show consumers spending less with Mastercard
12th October 2005
New figures from credit card processor Mastercard show that spending using their cards fell in September. The total amount spent was £5.41bn, down 3.5% over the month.
The hardest hit sectors were restaurants and leisure, which saw declines of 9.9% and 3.9% respectively, strengthening the growing perception that high street spending generally is slowing down.
A spokesman for Mastercard Europe called for a further cut in interest rates to boost consumer confidence.
Mastercard is responsible for around a third of the credit and debit cards in use in the UK.
Read More: BBC: Shoppers 'curb spending on cards'
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