British con­sumer spend­ing de­clines

New Straits Times - - Business -

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.

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