UK shopper data from BarclayCard showed consumer spending growth was at its weakest since March of 2021.
- +4.7% y/y
More via Reuters:
- outlays on essential items such as food up by 7.2%, the highest increase since December 2021
- average utility bills per customer climbed by 45.2%
- Clothing retailers saw an almost 2% fall in sales compared to August 2021
- department store sales were down by 4.3% and overseas travel also dropped
- "Many Brits plan to continue cutting back on their discretionary spending during the autumn and winter, while adopting a resourceful approach to saving money in order to weather a challenging period ahead," said Jose Carvalho, head of consumer products at Barclaycard.
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