Summer spend rise with pubs and cinema boost from consumer confidence hike

MoneyProperty Credit: AP Photo/Scott Heppell CONSUMERS are feeling better about their job security triggering a boost in spending in pubs during the World Cup and getaways, a new study reveals. Confidence in the strength of the economy hit 30 per cent in July which hit a 21-month high, the Barclays report shows. England fans revel in World Cup celebrations Credit: Reuters Charlize Theron stars in The Odyssey which helped a cinema uplift in July in the UK Credit: Getty Brits reported feeling more confident about their job security which was up from 46 per cent to 47 per cent, the survey revealed. Rohan Kumar, Head of Spend Insights at Barclays, said: “Card spending strengthened further in July, reaching its highest level for 12 months, with both essential and non-essential spend remaining in growth. Sign up for the Money newsletter Thank you! “Multiple factors played a part, with UK staycations, continued warm weather and England’s World Cup run lifting spending on travel, hospitality, everyday essentials and seasonal retail categories.” Spending was up nearly 2 per cent overall with transactions at pubs and bars surged 10 per cent due to England’s run to the semi-final at the World Cup. Travellers prioritised UK getaways with accommodation and travel agents all seeing an uplift. But one knock-on effect saw spending on airline tickets hit. Summer box Office hits including Toy Story 5 and The Odyssey helped cinemas. Card spend at the cinema was up by 2.6 percent. The survey also found that more households are now using AI to plan their finances. Most read in Money Half of UK adults, some 48 per cent, now using AI for budgeting, which is up form 35 per cent in July last yar. Artificial intelligence also being used for product research and holiday planning. It rises further with Gen Z as some four in five, some 78 per cent, Gen Zs have used AI for these purposes, which is a a nine point hike year-on-year. Comment now