Shoppers cut spending
HOUSEHOLD spending fell at its fastest rate for more than five years last month on the back of plummeting footfall in Britain’s shops.
Spending declined 2.1pc in March compared to the same month last year, according to credit card giant Visa, as shoppers held back both online and in stores.
Money spent online dropped 1.2pc, the first time it had fallen in 10 months, while spending in shops fell 3pc. Meanwhile, high street footfall decreased 6pc in March, the steepest year-onyear fall since the end of 2010, Springboard data showed.
Greater London saw the sharpest fall, down 7.5pc. There was no growth in footfall in any of the UK’s regions.