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....8 million workers. How about the UK's shops? Britain is known as a nation of shopkeepers, and consumer spending continues to fuel the economy. ... [Read full article on BBC ]
Tuesday 28th of March 2017 11:01:52 PM
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....Nine months on from the referendum, the Guardian’s monthly tracker of economic news shows inflation is at its highest level for more than three years, retail sales have lost momentum and pay growth has slowed significantly despite the lowest unemployment rate for more than a decade. But the housing market appears to have escaped the post-referendum downturn that some commentators were predicting and though consumer spending slowed at the turn of the year, it recovered somewhat last month. ... [Read full article on Guardian ]
Friday 24th of March 2017 10:30:30 AM
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....The point about the OBR is that it is independent and thoroughly trustworthy. Its best assessment is that business investment will suffer from Brexit, as will trade, consumer spending and the quality of life generally, not to say the budgetary finances. ... [Read full article on Guardian ]
Sunday 26th of March 2017 07:03:24 AM
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Latest Finance News related to Consumer Spending

We’re in a fine mess if George Osborne is our last hope of halting Brexit image
....The point about the OBR is that it is independent and thoroughly trustworthy. Its best assessment is that business investment will suffer from Brexit, as will trade, consumer spending and the quality of life generally, not to say the budgetary finances. ...
Brexit economy: UK faces squeeze on living standards image
Source : Guardian [Read Article] Friday 24th of March 2017 10:30:30 AM
....Nine months on from the referendum, the Guardian’s monthly tracker of economic news shows inflation is at its highest level for more than three years, retail sales have lost momentum and pay growth has slowed significantly despite the lowest unemployment rate for more than a decade. But the housing market appears to have escaped the post-referendum downturn that some commentators were predicting and though consumer spending slowed at the turn of the year, it recovered somewhat last month. ...
What Next for shops? image
Source : BBC [Read Article] Thursday 23rd of March 2017 01:21:33 PM
.... . "Shifts in consumer spending patterns are not unusual and we expect that the trend will stabilise and reverse at some point," it continues. ...
Higher fuel prices take toll on retail sales image
Source : BBC [Read Article] Thursday 23rd of March 2017 10:14:20 AM
....25. Paul Hollingsworth at Capital Economics said the figures would give some reassurance that higher inflation had not brought growth in consumer spending to a halt. ...
UK households most downbeat about finances since 2013 image
Source : Guardian [Read Article] Wednesday 22nd of March 2017 12:35:41 PM
....UK households are the most downbeat about their finances since 2013, as families start to feel the pinch from rising inflation and weak wage growth, according to a new survey. This suggests consumer spending, until now the main driver of UK economic growth, will weaken in coming months. ...
Screwfix boosts Kingfisher's profits image
Source : BBC [Read Article] Wednesday 22nd of March 2017 09:18:25 AM
....8% on a like-for-like basis, driven by its specialist trade desks which are exclusive to plumbers and electricians. He warned the worry was the slowdown in the second half of the year, which may reflect some pullback in UK consumer spending, in addition to seasonal factors. ...
UK wages will soon lag behind prices – will the Bank take action? | Larry Elliott image
.... That still looks premature given the lack of price pressure. Indeed, the squeeze on real incomes is likely to bear down on consumer spending over the coming months, and this will eventually feed through into lower inflation. ...
Rising food and fuel prices hoist UK inflation rate to 2.3% image
Source : Guardian [Read Article] Tuesday 21st of March 2017 11:27:08 AM
.... After today’s data release, risks to that call are skewed towards the BoE hiking sooner rather than later,” he said. But James Smith, economist at the bank ING, said the squeeze on real incomes and the likely slowdown in consumer spending would deter the Bank from raising rates. ...
MPC member calls for interest rates to rise image
Source : BBC [Read Article] Thursday 16th of March 2017 11:52:03 PM
....But Ms Forbes said that recent weakness in wages growth probably reflects temporary caution about Brexit among employers. The majority of MPC members saw signs of slowing consumer spending as one reason for caution on interest rates, but Ms Forbes said this should be seen in the context of strong levels of consumption in recent months. ...
Interest rate rise is further away than MPC vote suggests image
Source : Guardian [Read Article] Thursday 16th of March 2017 05:50:07 PM
....6%, but this is as good as its gets for a while. Welfare cuts and rising prices will squeeze real incomes and choke off consumer spending in the months ahead. ...
Bank of England keeps UK interest rates on hold as it warns on inflation image
Source : Guardian [Read Article] Thursday 16th of March 2017 12:10:58 PM
....But for now, minutes of the latest policy meeting showed eight members of the MPC felt that the current 0. 25% base rate and electronic money-printing programme were appropriate to support the post-referendum economy amid signs that slower pay growth and rising inflation were damping consumer spending. ...
US Federal Reserve raises interest rates to 1% in bid to hold off inflation image
....75% to 1%. The central bank set aside concerns about the impact of higher interest rates on consumer spending to confirm analyst projections that it is prepared to increase rates several times this year to keep a lid on inflation as it rises above its 2% target level. ...
UK unemployment falls to joint lowest rate since 1975 but wages stall image
Source : Guardian [Read Article] Wednesday 15th of March 2017 11:27:55 AM
.... The January data already showed the first year-on-year decline in real wages since August 2014 and, given the likelihood that inflation will continue to climb through 2017, continued weakness in pay growth could threaten a squeeze on household finances. This, in turn, would risk a more severe slowdown in consumer spending growth than we currently anticipate. ...
UK unemployment is as low as 1975 – but why aren't wages rising? image
Source : Guardian [Read Article] Wednesday 15th of March 2017 11:18:08 AM
.... Here at least, statutory incomes policy lives on. While record levels of employment are welcome, the weakness of pay means that consumer spending is going to be squeezed hard over the coming months. ...
UK economy will grow more strongly than expected, says BCC image
Source : Guardian [Read Article] Tuesday 14th of March 2017 07:01:15 AM
. Robust consumer spending and a brighter outlook for trade and investment will mean the UK’s economic slowdown this year is less severe than previously feared, the British Chambers of Commerce has predicted. ...
Budget deficit beyond 2025 warns spending watchdog image
Source : BBC [Read Article] Monday 13th of March 2017 09:26:55 PM
....4% in November to 2%. It said the rise is being driven by consumer spending which will slow down as rising prices squeeze consumer budgets. ...
Labour must learn to win if it wants to shape the UK's economic future image
.... The ratio of household debt to GDP is not quite back to its pre-crash levels but heading that way. Only additional borrowing will sustain consumer spending in the months ahead and that is only feasible because interest rates are at historically low levels. ...
We will all need a stiff drink to swallow Hammond’s austerity image
Source : Guardian [Read Article] Sunday 12th of March 2017 07:00:17 AM
.... And the Treasury is placing great emphasis on the importance of “productivity” – ie the supply side of the economy – to provide the future growth on which higher living standards and tax revenues ultimately depend. For the uncomfortable truth, underlined by the Office for Budgetary Responsibility, the Institute for Fiscal Studies and the Resolution Foundation last week, is that, after a splurge of consumer spending largely financed by borrowing, the outlook for real incomes is pretty bleak – indeed, there are already signs of a slowdown, and the OECD is forecasting economic growth this year of a mere 1. ...
Forget Brexit: housing is the key issue for Labour | Phil McDuff image
Source : Guardian [Read Article] Friday 10th of March 2017 12:04:31 PM
.... You get to realise the free money from the propertied middle and upper classes, keep business interests happy by putting a lid on wage growth, and still keep those on lower incomes in houses, albeit houses that get increasingly smaller and shoddier. Those property owners can “free up the value in their home” by taking out mortgages and other secured loans, and this debt can fuel consumer spending. ...
Morrisons leads FTSE 100 lower image
Source : BBC [Read Article] Thursday 9th of March 2017 09:21:19 AM
....Neil Wilson at ETX Capital suggested investors thought "this could be the top of the cycle". "Worries about declining basket sizes, fading consumer spending health and margin pressure from a still bitter supermarket price war are weighing heavily," he said. ...
UK economy will grow 2% this year but slow next, OBR predicts image
Source : Guardian [Read Article] Wednesday 8th of March 2017 07:58:42 PM
. The UK economy will confound forecasts for a Brexit-related slowdown through 2017, but will then quickly run out of steam as rising prices hit consumer spending, the Office for Budget Responsibility has predicted. ...
Philip Hammond's budget is a long way from tackling future challenges | Larry Elliot image
....3% next year. Faster increases in the cost of living, which look quite possible, would lead to a bigger hit on living standards, lower consumer spending, weaker growth and higher borrowing. ...
UK growth forecast for 2017 revised up image
Source : BBC [Read Article] Wednesday 8th of March 2017 02:12:25 PM
House price growth slowest since 2013, says Halifax image
Source : BBC [Read Article] Tuesday 7th of March 2017 08:53:35 AM
...."A sustained period of house price growth in excess of pay rises has made it increasingly difficult for many to purchase a home," said Martin Ellis, Halifax's housing economist. "This development, together with signs of reduced momentum in the jobs market and squeezed consumer spending power, is expected to curb house price growth during 2017. ...
Rethink rates now or face retail disaster, shops tell chancellor image
Source : Guardian [Read Article] Tuesday 7th of March 2017 07:01:35 AM
....Britain’s hard-pressed retailers have urged Philip Hammond to rethink government plans for revamping business rates amid signs that rising inflation has led to the weakest high street spending in more than five years. A report from the British Retail Consortium and KPMG found that the spurt in consumer spending seen in the run-up to Christmas had come to an abrupt halt, with the result that non-food sales are falling for the first time since the economy was flirting with a double-dip recession in November 2011. ...
Business wish list image
Source : BBC [Read Article] Sunday 5th of March 2017 01:37:19 AM
...."By supporting businesses to invest, the government can promote growth at a critical time for the UK economy as we enter into EU exit negotiations," said CBI director-general Carolyn Fairbairn. The CBI says that as uncertainty about how the UK leaves the EU dampens investment and higher inflation erodes consumer spending growth, "the government must show it is serious about supporting companies to invest, to help our regions and nations prosper". ...
A budget in the shadow of Brexit leaves Hammond short of choices image
Source : Guardian [Read Article] Saturday 4th of March 2017 07:11:34 PM
....In addition, the OBR has pencilled in a recovery in business investment – partly to take account of the tightening labour market, which should force employers to adopt new technology at a faster rate, and partly in expectation that the chancellor will boost public investment will have positive spin-off effects. A rise in business investment – and the spinoff effects of public investment – will be much needed to offset consumer spending, which most economists believe will wane as wage growth stagnates and inflation eats into buying power. ...
A budget in the shadow of Brexit leaves Hammond short of choices image
Source : Guardian [Read Article] Saturday 4th of March 2017 04:04:00 PM
....In addition, the OBR has pencilled in a recovery in business investment – partly to take account of the tightening labour market, which should force employers to adopt new technology at a faster rate, and partly in expectation that the chancellor will boost public investment will have positive spin-off effects. A rise in business investment – and the spinoff effects of public investment – will be much needed to offset consumer spending, which most economists believe will wane as wage growth stagnates and inflation eats into buying power. ...
Inflation returns to Japan for the first time in more than a year image
Source : Guardian [Read Article] Friday 3rd of March 2017 04:43:07 AM
....“The hurdle for hitting 2% inflation remains very high, which means the BOJ will maintain its ultra-loose monetary policy for the time being,” he said. Slow wage growth is weighing on consumer spending – which accounts for more than a half of Japan’s GDP – despite a tight jobs market. ...
Spring budget 2017: drop in government borrowing predicted image
Source : Guardian [Read Article] Tuesday 28th of February 2017 12:01:13 AM
....The Resolution Foundation said it would be the first time since March 2014 that a chancellor could stand at the dispatch box and announce borrowing will be lower – not higher – than previously thought. But as several reports on Tuesday point to a squeeze on household finances, the thinktank warned Hammond that the economic outlook remained uncertain and that he must use his budget to wean the economy off its reliance on consumer spending. ...
Primark sales boosted by bargain-hunting tourists after pound's Brexit slide image
.... All you need to do is look on the street and you can see it,” he said. Bason said there had been no noticeable impact on consumer spending in the UK since Brexit and that “not a lot” of expected price rises were feeding through on clothing. ...
German budget surplus highest since 1990 image
Source : BBC [Read Article] Thursday 23rd of February 2017 02:29:14 PM
The Bank of England is in denial. Brexit shows people don't act rationally | Robert Skidelsky image
.... For example, the BoE (correctly) predicted a fall in the sterling exchange rate following the Brexit vote. This would cause prices to rise – and therefore consumer spending to slow. ...
UK economy grows faster than thought image
Source : BBC [Read Article] Wednesday 22nd of February 2017 11:45:29 AM
....". However, the dominant services sector continued to grow steadily, "due in part to continued growth in consumer spending, although retail showed some signs of weakness in the last couple of months of 2016, which has continued into January 2017," according to ONS head of GDP Darren Morgan. ...
'The economy looks set to be slowing again' – experts debate Brexit watch data image
....Senior economic adviser at the PwC consultancy and former member of the Bank’s MPC from October 2006 to May 2011. The pattern of economic data for the last two quarters of last year was quite clear – stronger than expected growth driven by consumer spending and a resilient global economy. ...
We are unlikely to spot next financial crisis, Bank of England official says image
....Governor Mark Carney said actions by the Bank itself, which cut interest rates weeks after the Brexit vote, and Chancellor Philip Hammond, who lifted constraints on public spending in November’s autumn statement, had helped to boost the economy in the wake of the Brexit vote. Carney admitted the MPC had misjudged the resilience of consumer spending following a wobble after the referendum, but it could not include in its forecasts actions that policymakers might take to offset weaker confidence among consumers and businesses. ...
Is this the end of UK's retail boom? image
Source : Guardian [Read Article] Sunday 19th of February 2017 01:32:28 PM
Brexit vote begins to bite as rising food and fuel bills hit retail sales image
Source : Guardian [Read Article] Friday 17th of February 2017 12:51:52 PM
....“We have seen falls in month-on-month seasonally adjusted retail sales, both in conventional stores and online, and the evidence suggests that increased prices in fuel and food are significant factors in this slowdown,” she said. Economists warn consumer spending will come under further pressure this year as wage growth struggles to keep ahead of inflation, squeezing people’s incomes in real terms. ...
What level does inflation have to reach to erode savings and pensions? image
Source : Daily Express [Read Article] Tuesday 14th of February 2017 01:15:00 PM
....  . Mr Devlin raised concerns that rising costs could reduce the level of consumer spending has been “holding up” the British economy since the Brexit vote in June. ...
UK inflation is forecast to come in shy of Bank of England's 2 per cent target image
Source : Daily Express [Read Article] Tuesday 14th of February 2017 12:00:00 AM
....Ms Forbes, who is due to leave the Bank at the end of June, said growth had defied gloomy forecasts ahead of the EU referendum last June thanks to a "series of fortunate events" in the second half of 2016, which were set to keep supporting the economy. Strong consumer spending helped power growth in the final months of last year, with GDP expanding by 0. ...
Weak pound and rising inflation push clothing spend to five-year low image
Source : Guardian [Read Article] Monday 13th of February 2017 12:01:00 AM
UK inflation warnings intensify as service sector costs rise image
Source : Guardian [Read Article] Friday 3rd of February 2017 01:43:13 PM
.... There were also further signs that companies were passing on some of that cost burden to customers in higher prices. That will add to concerns that rising inflation is eroding household budgets and will hit consumer spending, a key driver of the UK economy. ...
Bank of England faces fresh embarrassment as tears up its forecasts | Larry Elliott image
....The forecasts come with some big caveats. Threadneedle Street is assuming that the higher imported inflation caused by the fall in the pound since the referendum is a one-off affair; that wage growth continues to be modest; and that consumer spending flags as prices in the shops go up. ...
Bank of England sharply raises UK growth forecast image
Source : Guardian [Read Article] Thursday 2nd of February 2017 12:46:31 PM
....But despite more optimistic forecasts, the central bank highlighted risks ahead. It expects business investment to fall and consumer spending to slow as rising inflation eats into household budgets. ...
Japan rejects Trump accusation of devaluing yen in currency war image
Source : Guardian [Read Article] Wednesday 1st of February 2017 06:48:52 AM
....The Japanese leader will propose a raft of new investments in US infrastructure that would create hundreds of thousands of jobs in sectors such as high-speed rail and shale oil development, Kyodo news reported. Japan’s central bank has been pursuing a super-loose monetary policy since Abe became prime minister four years ago, as it attempts to encourage consumer spending and lift the world’s third biggest economy out of its deflationary spiral – measures that have yet to pay off. ...
UK growth forecast upgraded amid warning over inflation image
Source : Guardian [Read Article] Wednesday 1st of February 2017 06:30:09 AM
. The surprising resilience of consumer spending in the months since the Brexit vote has forced one of the UK’s leading economic thinktanks to revise up its growth forecasts for the second time since the referendum. ...
Young people optimistic about economy despite Brexit, says study image
Source : Guardian [Read Article] Monday 30th of January 2017 07:00:46 AM
.... However, economists are still predicting a slowdown this year as higher inflation kicks in as a result of a slump in the value of the pound against the dollar and the euro, which has increased costs for businesses. The Bank’s governor, Mark Carney, indicated last month that he was likely to raise growth forecasts but said growth was being fuelled by consumer spending and so likely to be “slower and less durable”. ...
Strong dollar drags US growth to slowest pace since 2011 image
Source : Guardian [Read Article] Friday 27th of January 2017 02:15:35 PM
....The US economy slowed last year to register its worst performance since 2011 after the strong dollar sent exports tumbling and encouraged American businesses to import cheaper components from abroad. But the worsening trade position was offset by increases in consumer spending and business investment that analysts said would hand President Donald Trump a strong and growing economy. ...
UK GDP growth shows consumers spending despite Brexit worries | Larry Elliott image
.... It has been the service sector that has been keeping the economy going over the past six months, with retailing and hospitality especially strong. Hammond said at Microsoft that while he expected the fall in the value of the pound to slow consumer spending through its impact on imports, he had been pleasantly surprised by how slow the effects from the depreciation of the pound had been. ...
'It's a crisis that keeps on hurting' - experts debate Brexit watch data image
Source : Guardian [Read Article] Wednesday 25th of January 2017 11:10:06 AM
.... This is in tune with other positive global growth indicators such as the purchasing managers’ surveys, and positive employment indicators from the US and Europe. So for now, consumer spending and strong global growth are supporting the UK economy – and we have yet to see the negative impact on investment which many forecasters are expecting in 2017. ...
Brexit economy: weak pound stokes inflation as jobs market cools image
Source : Guardian [Read Article] Wednesday 25th of January 2017 11:09:22 AM
....Writing in the Guardian, a former member of the Bank’s monetary policy committee (MPC), Andrew Sentance, said two factors pointed to economic growth losing momentum: a slowdown in employment and rising inflation. “For now, consumer spending and strong global growth are supporting the UK economy – and we have yet to see the negative impact on investment which many forecasters are expecting in 2017,” said Sentance, a senior economic adviser at the consultancy PwC. ...
UK GDP preview: sharp slowdown expected in 2017 image
Source : Guardian [Read Article] Sunday 22nd of January 2017 03:54:01 PM
.... It expects growth to slow further in 2018, to just 1%. The group warns that with household incomes under pressure, the UK economy will be forced to become less reliant on consumer spending. ...
Philip Hammond blames Tony Blair for Brexit vote image
Source : Guardian [Read Article] Friday 20th of January 2017 12:20:18 PM
....Hammond said the government had no intention of kneecapping itself and would still need migrants for an economy operating at close to full employment. The chancellor said the UK economy had confounded those predicting immediate dire consequences from the result of the referendum in June, largely due to the resilience of consumer spending. ...
UK retail sales slump in December as inflation bites image
Source : Guardian [Read Article] Friday 20th of January 2017 11:05:00 AM
....“We know from the CPI [inflation] data earlier in the week that prices rose more than expected in December and now we also know that sales volumes fell. “This is likely to be the theme for the rest of the year – higher prices will reduce disposable income and hurt consumer spending growth,” he said. ...
Bank of England ‘keeping close eye on consumer spending’, says Carney image
. The Bank of England is keeping a close watch on consumer spending amid signs households are dipping into their savings and amassing debts to keep spending in the face of rising inflation. ...
Jingle tills image
Source : BBC [Read Article] Thursday 12th of January 2017 01:08:49 PM
....". The consensus though, is that consumer spending will be squeezed this year, and Rachel Lund, head of retail insight and analytics at the British Retail Consortium, says that will make it harder for retailers to generate growth. ...
Tesco hails 'strong progress' as sales rise image
Source : BBC [Read Article] Thursday 12th of January 2017 08:19:59 AM
....International like-for-like sales were down 1. 2% after "a particularly strong seasonal performance last year in addition to weaker consumer spending in Thailand". ...
'It's a financial cliff edge': how Britain fell back in love with credit cards image
.... “Employment may have risen, but wages are still worth less today than nine years ago. The government is relying on debt-fuelled consumer spending to support the economy, with investment and trade in the doldrums since the financial crisis. ...
Last-minute Christmas rush lifts UK retail sales image
Source : Guardian [Read Article] Tuesday 10th of January 2017 12:01:18 AM
....The BRC’s report chimed with figures from the discount supermarket Aldi that showed total UK sales for December were up 15% on a year earlier, helped by strong demand for festive vegetables, prosecco and its premium products such as “specially selected” mince pies. Separate figures from Barclaycard also suggested that the final three months of 2016 had seen the highest growth for four years in consumer spending, which encompasses leisure activities and petrol as well as spending in shops and online. ...
Aldi reports record Christmas sales image
Source : BBC [Read Article] Monday 9th of January 2017 12:05:48 AM
....Analysts are expecting both of those supermarkets to report growth in like-for-like sales of about 1% for the Christmas trading period. Earlier, a report from payment card company Visa suggested that the final three months of last year saw the strongest quarterly growth in consumer spending in two years. ...
Could Next be the new M&S: profitable but terminally unexciting? image
Source : Guardian [Read Article] Saturday 7th of January 2017 04:00:23 PM
.... In recent years he has bought back shares worth hundreds of millions of pounds; now he has chosen instead to pay special dividends – a move that suggests he still doesn’t think the shares are good value. Wolfson blamed the poor performance on unseasonal weather and a shift in consumer spending away from fashion in favour of eating out and holidays. ...
Five things economists can do to regain trust image
Source : Guardian [Read Article] Friday 6th of January 2017 11:49:04 AM
....To use a simple example, economists forecasting the impact of a vote for Brexit forecast the sudden change in the UK’s political outlook and uncertainty around its future trading relationships would spook consumers and investors. That, they said, could knock consumer spending, hit share prices and send house prices lower as people stopped shopping, investing and making big decisions such as moving house. ...
Chief economist of Bank of England admits errors in Brexit forecasting image
Source : Guardian [Read Article] Thursday 5th of January 2017 08:52:01 PM
....6%. Forecasts by the Treasury, the International Monetary Fund and the Paris-based OECD, all pointed to a recession after the vote, based on assumptions of steeply declining consumer spending and business investment. ...
Next warns on outlook as sales fall image
Source : BBC [Read Article] Wednesday 4th of January 2017 07:34:13 AM
.... . Next said sales in 2017 could be hit as rising inflation erodes earnings growth and squeezes consumer spending. ...
Stock markets: the Guardian's share tips for 2017 image
Source : Guardian [Read Article] Tuesday 3rd of January 2017 07:00:47 AM
....The biggest loser was my own choice, Restaurant Group, which was hit by falling consumer confidence, as well as its own questionable decisions, including removing the most popular items from its Frankie & Benny’s menus. We were also heavily exposed to retailers, which have come under pressure following the Brexit vote on concerns about a squeeze on consumer spending. ...
Shops 'face perfect storm of rising costs and falling spending' image
Source : Guardian [Read Article] Monday 2nd of January 2017 05:57:34 PM
. Shops in Britain face a perfect storm of rising costs and falling consumer spending in 2017, one of the world’s leading commercial property agents has warned, raising the possibility of more closures after the demise of BHS last year. ...

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