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UK consumer spending stays in the doldrums in January - Visa [Reuters (UK)]

IHS MARKIT LTD COMMON SHARES (INFO)  More Company Research Source: Reuters
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PDF UK consumer spending stays in the doldrums in January: Visa | Reuters Reuters Staff 2 Min Read LONDON (Reuters) - British shoppers spent less last month than the year before, causing spending in January to fall for the first time since 2013, according to a survey which underscored many households’ caution about their finances and the approach of Brexit. Visa, whose debit and credit cards are used for a third of payments in Britain, said on Monday that consumers stayed away from the traditional post-Christmas sales last month. Household spending fell by 1.2 percent in January compared with the same month in 2017, with spending in shops down by 4 percent, it said. “Consumer spending entered the new year on a downbeat note, falling for the eighth time in the past nine months, as Britons continued to cut back on spending,” Visa’s chief commercial officer, Mark Antipof, said. A fall in car sales weighed on the overall sales figures too. But there was better news for hotels and restaurants [Read more]

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