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.
Visa:
- clothing and footwear suffered the biggest fall in October
- Falls also in food and drink and recreation and culture
