British consumer spending fell for the third month in a row in July in its longest losing streak in over four years, according to data released on Monday, in another sign that the impact of last year’s Brexit vote is rippling through to households.
Overall consumer spending, the engine of the British economy, dropped by 0.8 percent in real terms last month compared with July 2016, payments company Visa said.
That was quicker than June’s 0.2 percent fall, and following a further drop in May it marks the longest consecutive decline since February 2013, when a still-frail economy was struggling to recover from the financial crisis.
Reuters [1]
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