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DIY spending increases and people party

Research by Visa has indicated that expenditure on DIY is on the up, while the level of UK inflation has ensured that interest rates have stayed low.

In April, the VISA Expenditure Index revealed that consumers in Britain spent significantly on DIY accessories and parties. This trend could lead to greater demand for carpet cleaning in Cheshire in the future, and Kevin Jenkins, the UK director for Visa Europe, has commented:

“The improvements in household spending power could drive growth in consumer spending for several months to come, even as margins and price wars continue to depress total spend on the high street.”

Jenkins has indicated that consumers spent about two per cent more than they had a year previously, with the Easter weekend being particularly busy. He has put the spending increase in perspective by comparing it with the boost delivered by the Black Friday of November 2014. However, he has suggested that sunny weather was a factor in boosting economic activity in April.

When it comes to spending on the household goods category, which includes DIY, it has been shown by the index that the rate of increase was nearer three per cent than two per cent. At a time when the possibility of a period of deflation has prompted official reassurances to dampen potential concern, this amount of spending could be heartening for the DIY sector.

According to reports, some of the shopping in question was based on households taking on more credit. This has been possible due to a sustained drop in unemployment and higher consumer confidence.

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