British Spending Falls for First Time in Years: Chart

U.K. consumer spending fell for the first time since 2013 last month, dropping 0.8 percent compared with a year earlier, an index by Visa and IHS Markit shows. The gauge illustrates how faster inflation and weak wage growth are taking their toll on U.K. household demand. Uncertainty around the outcome of Brexit and concern about the economy are likely to keep expenditure weaker in the months ahead, according to Annabel Fiddes, an economist at IHS Markit.

 

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