Consumer spending growth falls to lowest level in two years
Consumer spending growth slowed to just 1.6 per cent in March, its lowest level in two years, as consumers reined in purchases in nearly all categories.
The figure marked the third successive month of a spending slump and dragged down overall growth for the first three months of the year to 2.8 per cent – the worst performance in seven quarters.
According to the latest data from Barclaycard, which processes nearly half of all credit and debit card transactions in the UK, women’s clothing spend fell 1.2 per cent in March and fami... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
