The report explains how essential and non-essential spending across the UK changed amid the lockdown
Brits spend 42% less on non-essentials last month. Source: shutterstock.com
Data from LloydsBank revealed that spending on non-essential items was down 42% in April, compared to last year.
The fact that many establishments still closed cause a drop in spending on holidays (94%) and in restaurants (75%), accounted for 11% and 9%, respectively.
Although, the survey revealed that the amount of money put towards charitable causes raised 4% in April compared to last year. It shows significant support to the most vulnerable in society during these uncertain times.
As to the UK’s essential spending in April, it fell by 6% compared to 2019. According to information, this decrease was caused by a drop in money spent on travel.
Along with that, spend on health services suffered down 55% this month when compared to a year earlier.
Nevertheless, supermarkets and groceries continued to gain strength as people were preparing for longer periods at home. This way, spending increased 18% year on year in March and April.
We’ve reported that US retail sales faced an 8.7% month-on-month drop, followed by an 11% fall in April. The report found that March saw the biggest drop in retail sales since records began, despite a lot of stores were open.
SEE ALSO:
