LONDON (ShareCast) - (ShareCast News) - In the run up to Christmas, the UK splurged out on the biggest quarter of spending since 2014, according to new data from Visa revealed on Monday.
Average year-on-year growth for each month in the fourth quarter of 2016 was twice as high as the average rates for the previous two quarters at 2.8%, according to data compiled for Visa by Markit, with consumer spending up +2.6% on the year in December.

Online retailers beat the high street with the highest spike in sales over the whole of the Christmas period, while bricks-and-mortar retailers saw improvement after a "disappointing dip" in November.

Spending growth on e-commerce categories grew 5.5% year-on-year in December, but face-to-face categories saw insip growth of just 0.7%.

The 'experience' sector led the growth spurt, with consumers going to Christmas markets and travelling to visit loved ones for their celebrations.

Hotels, restaurants and bars saw spending rise 7.3%, while recreation and culture at 6.4% saw the strongest increases.

Food performed well with spending up 2.9%, while spending on clothes and household goods fell in December due to the Black Friday sales hike at the end of November.

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