CompareTopCards.co.ukVirgin Money released data from its recently conducted study that showed some more signs of green shoots in the economy. Spending in bars, restaurants, cinemas and theatres increased to £20 million in Q1 2009 compared to Q1 2008. This was based on analysis of 2008 & 2009 spending on Virgin Money credit card, UK's fastest growing credit card with more than a million customers.
March saw the biggest jump of 55% in this spending category showing signs that confidence is returning on the High Street. A late Easter may have also led to this boost, but this is just one more evidence of an economic green shoot. This trend has continued into April which saw a 26% increase. This increase in entertainment and leisure which is a definitely a sign of a return of confidence and reverses the trend of slowdown in spending on leisure as people tightened their belts and were less willing to spend unless it was on essentials.
I am now heading off to the pub to maintain this trend! Cheers!
Virgin Money Card offers 0% balance transfer rate for 16 months (fee of 2.98%) and 0% on purchases for 3 months. It has a typical APR of 16.6%. Compare the Virgin Money card with other credit cards.
0 comments:
Post a Comment