UK festive shopping forecast to hit record high

LONDON, Dec 21 (Reuters) Saturday is expected to set a new record in festive spending, as consumers shop until they drop, according to research from Barclays Bank.

Shoppers are expected to spend 2.5 billion pounds on 23 December, beating the next busiest day, Friday 22 December, by 230 million pounds, the bank said.

The record spend would see consumers spend almost 200 million pounds more than the biggest spending day of 2005 -- also 23 December, when shoppers forked out 2.3 billion pounds.

This year's prediction comes from an analysis of spending patterns in the run-up to Christmas last year and early December this year.

According to the study, consumers will flex debit and credit cards to the tune of 1.5 billion pounds on Saturday, up from 1.4 billion pounds last year.

On top of that, 1 billion pounds will be withdrawn from British cash machines, with 490 million pounds being taken out between 1000 hrs and 1500 hrs alone.

That compares to cash machine withdrawals of 950 million pounds on the busiest day of 2005.

More than one million cash machine transactions are expected to take place between noon and 1300 hrs. on Saturday at the 50,000-plus cash machines throughout the UK.

Barclays expects its busiest machines to be in Liverpool, Brixton and Newcastle-upon-Tyne.

During the month of December, more than 15.5 billion pounds is expected to be withdrawn from cash machines and 31.6 billion pounds spent on debit and credit cards, making a grand spending total of 47 billion pounds this Christmas -- an increase of about four per cent on last year.

Barnaby Davis, electronic banking director at Barclays, said: ''The run up to Christmas is a busy time for everyone, not least for our own staff.

''Action plans are in place to ensure cash machines remain stocked despite the level of activity in a really short space of time, to make sure even those very last minute purchases can be made.'' REUTERS DKA RK0935