British consumer spending goes down for the first time in almost 4 years

British consumer spending goes down for the first time in almost 4 years

The previous month British consumers reduced their spending for the first time in almost four years as data from credit card company Visa revealed. It’s because households became more cautious even before the previous week's shocking election outcome.

In May, consumer spending turned to be 0.8% lower than in the same month last year, after adjusting for inflation. That’s the first year-on-year descend since September 2013, as Visa reported on Monday.

In monthly terms sales lost 1.9%.

With stalling wage surge and ascending prices more and more UK customers started fealing the squeeze.  

The British economy has demonstrated signs of stagnation. Confidence among consumers and businesses is supposed to take a further dip due to Theresa May’s fail to grasp a parliamentary majority last week.   

In general, Britain's economy appeared to be the weakest performer among the Group of Seven wealhty nations in the first quarter of this year.


Latest news

Greenback edges down

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera