UK heatwave, World Cup snap consumers out of winter gloom - Visa [Reuters (UK)]
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Source: Reuters
UK heatwave, World Cup snap consumers out of winter gloom - Visa | Reuters Reuters Staff 3 Min Read LONDON (Reuters) - British consumers picked up the pace of their spending in June for the second month running, the first back-to-back increases in over a year, a survey showed on Monday, another sign that the economy is past its weak start to 2018. Payment firm Visa said inflation-adjusted spending on its credit and debit cards was 0.7 percent higher than in June last year, helped by warm weather and the soccer World Cup, following a 0.9 percent increase in May. Mark Antipof, chief commercial officer at Visa, said a heatwave and the World Cup had led to particularly strong increases in spending in restaurants and bars. Data has suggested that Britain’s economy grew more strongly in the second quarter of 2018 than in the first three months of the year when a winter slowdown discouraged the Bank of England from raising interest rates. The BoE is expected to raise rates for only the secon
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