UK consumer spending growth in 2019 to be slowest in six years

LONDON (Reuters) – Britain will see the slowest growth in consumer spending in 2019 in six years, piling even more pressure on retailers, EY ITEM Club forecast on Monday. “The improvement in purchasing power has meant that consumers have been significantly less affected in their spending decisions than businesses by uncertainties over the economy and Brexit,” said Howard Archer, chief economic advisor to the EY ITEM Club, which produces quarterly UK economic forecasts. Slower growth in consumer spending will add to the pressures high street retailers face from changing shopping habits and more spending moving online.

Source: www.reuters.com