Published on : Monday, September 11, 2017
The overall UK household spending in August had increased by 0.3% year-on-year representing the first overall growth in four months, as per the Visa UK Consumer Spending Index.
The hospitality sector was among the best performing sectors of the UK economy for this month, behind just miscellaneous goods and services that had witnessed a 10.1% rise. But then, Visa UK said that the data suggested that household expenditure continued to be on track for its weakest calendar year of growth ever since 2013.
Kevin Jenkins who is the managing director at Visa, UK and Ireland region mentioned that the consumer spending in August has broken the trend of the last three months, registering a marginal rise against the same period last year.
Josh Beer, of the Illustrious Pub Company of Cambridgeshire that represents one of the small business tracked by Visa as a part of its consumer index mentioned that they had registered a small revenue dip in August.