Originally posted on 23 Dec 2013

Last week, ONS published statistics on Consumer Trends – Q3 2013. It contains details of Household Final Consumption Expenditure (HHFCE) for the UK. The main tables include all expenditure on goods and services by members of UK households.

 Key Points
·       In Q3 2013, household spending (adjusted for inflation) grew by 0.8% (£1.9 billion). All areas showed positive growth with the exception of ‘Housing’ and ‘Health’.

·       Household spending when compared with the same quarter a year ago has risen in every quarter since Q1 2012 and was 2.5% higher in Q3 2013. This is the highest comparable growth since Q1 2008.

·       Household spending still remains 1.5% below the peak of spending (in volume terms) in Q4 2007.

·       The current price value of household spending, which includes inflation, shows how much UK households spent. In Q3 2013 current price spending increased by 1.7% compared with Q2 2013, continuing the trend of positive growth which has continued since Q3 2009. Current price spending is now 18.2% higher than Q4 2007.

·       In current price terms, the value of UK household spending per head was £4,117, an increase of 1.5% on the quarter.

Martin Pollins

Martin Pollins

Managing Director at Bizezia
Martin Pollins is a Chartered Accountant with wide experience in corporate finance and business management. He holds a number of directorships and has served on the boards of several companies, including those listed on the London Stock Exchange, AIM and OFEX.

He was a Council member of the Institute of Chartered Accountants in England and Wales from 1988 to 1996.

Martin Pollins ran his own firm based in Sussex and was the first Accountancy firm in the UK to advertise on television and Martin went on to create and launch the CharterGroup Partnership (the UK's first Accountancy network) and then LawGroup UK (one of the largest networks of lawyers in the country).

Martin started work on the Bizezia concept in 1996, developing the broad range of information resources and products over the past 18 years.
Martin Pollins