Market news
05.11.2019, 08:20

UK consumers keep lid on spending in October - surveys

British consumers kept a tight rein on their spending ahead of December's election, despite being tempted by retailers offering heavy discounts last month, surveys showed on Tuesday.

The British Retail Consortium (BRC) said overall retail spending rose 0.6% year-on-year in October, marking the strongest growth since April when spending was boosted by the timing of Easter.

Still, the BRC said the longer-term outlook remained bleak, with the 12-month rolling average of sales growth falling to a new low of 0.1%.

"With Brexit still unresolved and a December election creating new uncertainties, retailers will be looking nervously at the months ahead," BRC chief executive Helen Dickinson said.

Consumers have propped up Britain's economy since the 2016 Brexit referendum, helping to offset reduced company investment. But economists say recent signs of a weakening in spending by households raise the risk of a recession as the country prepares to leave the European Union.

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location