From Visa, their measure of consumer spending up 0.3% y/y for August
- "We are wary about taking this as a sign that the household squeeze is easing given the clear slowdown in spending during the preceding three months," Kevin Jenkins, Visa's UK managing director, said.
- -0.8% y/y in July
- Visa data on an inflation-adjusted basis
- Visa cite as a boost for the spending more British consumers holidayed at home due to the Brexit hit to the pound
- Visa said this year looks like being the weakest for spending since 2013, households struggle with rising inflation, weak wage growth
Not generally a GBP mover
