UK consumer spending falls for third month

Home UK consumer spending falls for third month

UK consumer spending falls for third month

July was the third month in a row that consumer spending fell according to research by credit card firm Visa.

Compared with the same month a year ago, spending fell by 0.8%, slightly faster than the 0.2% decline in June.

Spending has now dropped for the past three months, marking the longest falling streak in over four years.

Transport and communications, and clothing and footwear saw the biggest drops, while food and drink and household goods also fell. Spending on hotels, restaurants and bars was up 6% year-on-year, representing one bright spot.

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