British consumer spending declines
LONDON: Consumer-spending growth in the United Kingdom slowed last month and is forecast to remain weak, according to a report from Visa. It showed spending rose an annual 0.5 per cent last month, down from one per cent in March and marking one of the slowest rates of growth in years. Weak household demand is also taking a toll on retailers. A separate report from the Institute for Chartered Accountants in England and Wales showed retailing was the laggard among nine sectors covered.