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Barclays Data Echoes BRC: Weakness On UK High St.

CONSUMER STAPLES

Barclays consumer spending (BARC LN) report out for Feb-24:


  • Spending +1.9% y/y, lowest since Sep-22 with “wet weather” contributing to 2.2% fall in High St spending.
  • Essentials (staples) saw growth slow from Jan-24 (+2.3% y/y vs. +4.2%) and fuel spending was down 12.2%.
  • Echoes the BRC data from earlier (Barclaycard is the UK’s largest card issuer, so generally a good sample) which is relatively cautious for the credit issuers with significant UK presences e.g. Tesco, Ocado, Asda.
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