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Barclays reports first decline in card spending in over three years amid slowing inflation and reduced consumer spending.

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July 9, 2024
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Barclays Bank has reported a decrease in card spending for the first time in over three years, according to their latest data. This marks the first decline in card spending values since February 2021. The bank’s June data, which covers nearly 40% of the nation’s credit and debit card transactions and combines it with consumer research, shows a decrease in spending due to a combination of factors.

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