UK consumer choose pubs over retailers

British retailers reported sluggish sales growth last month as potential shoppers chose to make the most of this summer’s record hot weather and spend money at the pub instead.

The British Retail Consortium said on Tuesday that shops reported total spending was up just 1.3 percent on a year earlier, the weakest growth since November last year, apart from a big dip in April due to the timing of the Easter holiday.

By contrast, a broader measure of consumer spending by Barclaycard (BARC.L), which processes just under half of card payments in Britain, rose by 4.5 percent in August — boosted by an 11.9 percent year-on-year jump in spending at pubs.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.