UK data — Visa says UK shoppers cut spending by most in more than 4 years

A survey by payments company Visa (based on its credit and debit card data)
Consumer spending — adjusted for inflation and seasonal effects — fell by 2.0 percent y/y in October

  • the fifth fall in the last six months
  • For the m/m, down 0.9 percent

«The figures are a stark indicator of the strain on household budgets even before the Bank of England’s recent interest rate rise,» Mark Antipof, Visa’s chief commercial officer, said.

  • clothing and footwear suffered the biggest fall in October
  • Falls also in food and drink and recreation and culture

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