Brits spent less in the run-up to Christmas 2011

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Brits spent less in the run-up to Christmas 2011

Data has shown the amount spent by UK consumers in November and the run-up to the festive period last month was down on the previous year.

Overall spending for November 2011 was two per cent less than the level seen in the same month in 2010, while spending through store cards, store instalment credit, personal loans and credit cards all fell, figures from the Finance & Leasing Association (FLA) have shown.

Fiona Hoyle, FLA head of consumer finance, said: "This reinforces the need for the government to make sure that any changes to regulation do not limit the supply of affordable, responsibly-provided credit."

The research follows the publication of new credit card data from Santander, which revealed a four per cent decline in the total value of credit card borrowings for 2011 in comparison to the previous year.

Brits now seem to be spending less but on more transactions, meaning while the value of items purchased is going down, people are carrying out transactions more often than in the past.

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