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November spending reached 22-month high, driven by e-commerce around Black Friday

Consumer spending increases +3.2% year-on-year, the highest rate since January 2015 Record increase in e-commerce expenditure (+12.5%), but face-to-face spending declines slightly (-1.4%) All broad spending categories see higher spending, led by Recreation & Culture (+9.3%)

November spending growth reached 22-month high, driven by e-commerce around Black Friday

Headline findings • Consumer spending increases +3.2% year-on-year, the highest rate since January 2015 • Record increase in e-commerce expenditure (+12.5%), but face-to-face spending declines slightly (-1.4%) • All broad spending categories see higher spending, led by Recreation & Culture (+9.3%)