Britain will see the slowest growth in consumer spending in 2019 in six years, p...
LONDON - 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.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.
“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.” As a result, it forecast employment growth would slow to 1.0% in 2019 and 0.6% in 2020, from 1.2% in 2018.
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