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U.K. Consumer Spending Weakens With Sharp Slowdown in April

  • ‘Relatively modest’ expenditure seen in coming months: Visa
  • Business confidence rises, though consumer-facing firms lag
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Photographer: Chris Ratcliffe/Bloomberg

U.K. consumer-spending growth slowed in April and is forecast to remain weak in the coming months, according to a report from Visa.

Its index showed spending rose an annual 0.5 percent in April, down from 1 percent in March and marking one of the slowest rates of growth in the past three years. Weaker household demand is also taking a toll on retailers. A separate report from the Institute for Chartered Accountants in England and Wales showed while there was a jump in business confidence this quarter, retailing was the laggard among nine sectors covered.