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Cash Strapped Consumers Zip Wallets As UK Retail Sales Sag

Trend Summary: UK retail sales weaken as cash-strapped consumers hold back.


According to a survey conducted by the British Retail Consortium [BRC] on behalf of Barclaycard, UK retail sales in October declined by the most in seven months, indicating continued caution among consumers only weeks prior to ... 

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... the crucial Christmas shopping season. 

The BRC reports that sales fell by one percent on a like-for-like basis and were up just 0.2 percent in total terms. In a separate report, Barclaycard said annual growth in household spending slowed to 2.4 percent last month from 3 percent in September, the weakest in more than a year.

Meantime Bank of England Governor Mark Carney said last week that while household finances have been “difficult” this year, “the worst of that real-income squeeze is ending.”

In addition to expecting inflation to peak this month, Mr Carney also forecasts a pickup in wage growth.

Read the original unabridged Bloomberg.com article.

[Estimated timeframe:Q4 2017]

All data sources are attributed with links to the original insight. The insight is then summarised and, where appropriate, enhanced with additional information.

Source: Bloomberg.com
MTT insight URL: http://marketingtrendtracker.com/article.aspx?id=7257



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