UK households cut spending at fastest pace in almost five years, says Barclays
NegativeWorld Affairs

- UK households have reduced their spending at the fastest rate in nearly five years, with a reported 1.1% decline in card spending in November, according to Barclays. This drop comes as consumers delay Christmas shopping amid economic uncertainty and concerns regarding the upcoming budget.
- The significant cutback in consumer spending raises alarms for retailers and the broader economy, as it reflects a decrease in consumer confidence, which is crucial for economic growth and stability, especially during the holiday season.
- This trend of reduced spending aligns with warnings from the OECD about the impact of higher taxes and spending restraint on consumer expenditure, as well as criticisms from retailers like Asda, who attribute declining sales to government actions that undermine consumer confidence.
— via World Pulse Now AI Editorial System







