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UK consumer spending suffers weakest start since 2012: Visa

Reuters  |  LONDON 

By David MillikenLONDON (Reuters) - British consumers tightened their belts in February, giving the weakest start to the year since 2012, figures from payments company Visa showed on Monday, raising the prospects that the broader economy will slow in the first quarter of 2018.Visa said inflation-adjusted consumer spending in February was 1.1 percent lower than a year earlier, after a 1.2 percent decline in January."Rising living costs, lacklustre wage growth and relatively subdued consumer confidence are all likely playing a part in the ongoing reduction in household spending," said Annabel ...

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First Published: Mon, March 12 2018. 09:51 IST
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