Economics
U.K. Consumer Spending Recovers Slightly as Brexit Dims Outlook
- Retail sales improve after December slump, reports show
- Shoppers worried about price increases for essential items
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Consumer spending recovered slightly in January after a dismal holiday season, though British households are still wary because of Brexit.
KPMG said that retail sales grew 2.2 percent last month, up from the slowest growth in a decade in December. Figures from Barclaycard also showed consumer spending grew 2.9 percent after a previous decline. It had dipped in December as shoppers brought forward gift purchases to November to take advantage of heavy discounts.