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Aug 14, 2006
Morgan Stanley is predicting increased credit card spending in the UK during the
summer season, rising by 35 percent compared to the previous summer.
According to a survey conducted by the
company, card users reveal that they would be spending an average £1,136 on
their plastics during the summer season compared to £839 in the same period
last year. However, the amount is 8 percent lower compared to the previous
three months, Morgan Stanley explained.
Demographics-wise, men are expected to splurge more via credit cards,
spending an average of £1,296 over the summer, or about a third more than the
£976 average spend by women. The top three items for credit card spending are
homes, cars and travel. Compared to £194 last year, about £329 will be spent on
homes and cars, while holiday spending is predicted to rise from £221 last year
to £331 this year.
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