Visa Europe has released its latest EU Consumer Spending Barometer and has revealed that consumer spending flattened across the EU in Q4 2012. While spending was marginally lower than a year ago, this represents a marked improvement on Q3 2012 when spending was -1.7% lower than the same period in 2011.
Philip Symes, Chief Financial Officer at Visa Europe said: “2012 proved to be a subdued year for household spending across the EU with year-on-year contractions recorded in three of the four quarters. However, the year ended with spending heading in a positive direction and almost on a par with spending levels from 2011. A return to consumer spending growth for many of the largest economies in the EU is a welcome sign and as drivers of growth, it is a trend we hope to see continuing into 2013.”
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