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A final week-long frenzy of spending

Dec 18 2007 Western Mail

NEARLY £12bn will be spent on last-minute shopping in the week before Christmas.

And Sainsbury’s Bank, which did the research, says that in Wales, every adult will spend an average of £323.40 over the next week.

It will go largely on last-minute gifts, food, drink and items such as Christmas crackers and wrapping paper.

Sainsbury’s says 18% of this last-minute spending will be on credit cards.

The bank says that across Britain about 8.6 million people intend to put half or more of their last-minute Christmas shopping on their credit cards.

The corresponding figure last year was 6.5 million. A total of 1.4 million people intend to spend more than £1,000 in the seven days before Christmas, and a further 4.4 million intend to spend between £501 and £1,000.

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