Barclays reports fastest fall in UK card spending since 2021

British households cut back on spending at the fastest pace in almost five years last month as consumers put pre-Christmas shopping on hold, according to a leading survey.

- Phillip Inman

Adding to concerns that uncertainty surrounding the budget played a big role in dampening confidence, Barclays said card spending fell 1.1% year on year in November - the largest fall since February 2021.

The bank said retailers still enjoyed their busiest day of the year so far on Black Friday, with transaction volumes 62.5% higher than the average day in 2025.

However, the British Retail Consortium (BRC) and the consultancy KPMG found that the Black Friday lift was much less significant this year, caused by shoppers having “jitters”.

“Black Friday has become a key trading period for retailers, kicking off the Christmas shopping season and giving shops an early insight into customers’ appetite for spending.