UK Consumer Spending Plunges as New Lockdown Bites: Barclaycard

A shopper walks down the street in London, Britain, on Dec. 18, 2020. Hannah Mckay/Reuters

LONDON—Spending by British consumers plunged in January at the fastest rate in seven months as the country went back into a tight COVID-19 lockdown, payment card firm Barclaycard said on Tuesday.

A 73 percent annual increase in online retail spending and record demand for takeaway food—which jumped by a third from a year ago—failed to compensate for the closure of many businesses.