Consumer Spending in the United Kingdom decreased to 330817 GBP Million in the first quarter of 2020 from 340793 GBP Million in the fourth quarter of 2019.

Debenhams and Marks & Spencer have announced store closures, while Philip Green’s Topshop-to-Dorothy Perkins fashion empire staved off a collapse into administration this month, as retailers struggle with rising labour costs, business property taxes and growing online competition.
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. UK consumer spending recovers a little more in June, surveys show. REUTERS/Luke MacGregor

“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.

It was likely to remain modestly below that level over the rest of 2019 and possibly beyond.

Research from Barclaycard said spending …



Constant Prices 2016, SA



2 Min Read. Consumer trends, UK: April to June 2019.

On the other hand, supply-side economists believe the government should cut business taxes to create jobs.

It said it expects spending to rise by 1.6% over last year, although that would be faster than an estimated 1.3% growth in the broader UK economy in 2019. It said it expects spending to rise by 1.6% over last year, although that would be faster than an estimated 1.3% growth in the broader UK economy in 2019. It said strength in the labour market would increasingly fray over the coming months as companies tailored their behaviour to a lacklustre domestic economy, prolonged Brexit uncertainties, an unsettled domestic political situation and a challenging global environment. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. “Retailers are therefore fighting for a shrinking piece of the pie and this is reflected in the recent turbulence on British high streets,” she said.



“And, while the economy won’t deliver retailers growth, they will have to find it from other areas and this means having a strong understanding of their customers.” FILE PHOTO: Shoppers are reflected in a shop window as they walk along Oxford Street on the last Saturday before Christmas, in London, Britain December 21, 2013. ... July's hot weather failed to boost consumer spending in the UK which fell to a … Keynesian economic theory says that the government should stimulate spending to end a recession . Monthly growth in consumer spending in the UK 2015-2020 Distribution of the consumer spending in the Netherlands 2016, by type Monthly consumer spending growth in Russia 2020 Consumer spending benefited from robust employment growth and a strong pick-up in real earnings growth in the second half of 2018 and early 2019 but the outlook was now weaker, the economic forecasting group said. UK consumer spending growth 'falls to record low' 6 August 2019.



“While consumer confidence in late 2018/early 2019 weakened to the lowest level since mid-2013, perceptions of personal finances and a willingness to spend generally held up much better than views of the economy.” The forecaster, which is sponsored by business consultancy EY, said it suspected earnings growth peaked in early 2019. The UK showed caution with its shopping in October, as consumer spending grew by just 1.5% in the month, according to data released today.



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EY head of UK retail Julie Carlyle said despite consumer spending comparing favourably to other parts of the economy, it was far weaker than it has been in previous years. Household final consumption expenditure (HHFCE) for the UK, as a measure of economic growth.

As a result, it forecast employment growth would slow to 1.0% in 2019 and 0.6% in 2020, from 1.2% in 2018.

Consumer spending is the single most important driving force of the U.S. economy.

Slower growth in consumer spending will add to the pressures high street retailers face from changing shopping habits and more spending moving online.



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