U.K. Consumer Pullback Sees Worst Year for Spending Since 2012
U.K. consumers curbed their spending for the first time in five years in 2017 as surging inflation and falling real wages took their toll on high street retailers.
Visa’s U.K. consumer spending index slipped 0.3 percent last year from 2016. It also fell an annual 1 percent in December, the crucial Christmas shopping period for stores. It’s unlikely to recover this year, the credit card company said.
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