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UK consumer spending falls in 2017 for first time in 5 years - Visa

Reuters  |  LONDON 

By David MillikenLONDON (Reuters) - British shoppers tightened their belts over Christmas, leading to the first year-on-year fall in spending since 2012, and leading businesses aim to do the same over 2018, two major surveys showed on Monday.Evidence of a consumer slowdown in Britain has mounted since official data showed the weakest household spending growth in five years earlier in 2017 against a backdrop of high inflation and worries about Brexit that weigh on business investment.Visa, whose debit and credit cards are used for a third of payments in Britain, said British consumer spending ...

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First Published: Mon, January 08 2018. 08:59 IST