Consumers keep cash in pockets

ECONOMY:

Consumer spending has got off to its weakest start of the year since 2012, according to new figures.

Households’ spending showed a 1.1 per cent annual fall in February following a 1.2 per cent decline in January, according to Visa’s UK Consumer Spending Index. Visa said the past two months had seen the strongest spending reduction for the start of a year since the opening two months of 2012.