UK data shows a huge drop in consumer spending and a huge rise in consumer confidence

A couple of data points out of the UK, from Barclaycard and the British Retail Consortium (BRC).

Barclaycard numbers:

• UK February consumer spending -13.8% y/y (vs. Jan -16%)
• confidence in the economy hit a 12-month high in its Feb survey, up 4 points on the month to 28 and its highest for 12 months

BRC:

• February total sales +1.0% y/y vs Jan -1.3%
• Feb like-for-like sales +9.5% y/y vs Jan +7.1%