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Britons spend money more carefully
Consumer spending growth of UK slowed down in November as concerns about Brexit made buyers be more careful in regards to how much they spend, Bloomberg reports.
Consumer spending growth of UK slowed down in November as concerns about Brexit made buyers be more careful in regards to how much they spend, Bloomberg reports.
Expenditures grew by 3,3% in November, and this is the lowest pace since cold weather kept consumers away from stores this March. The proportion of adult Britons who are confident in their financial situation fell to the lowest level since 2015.
Research results are not very optimistic for suffering retail sector that observed too many store closures this year and still hopes for sales revival ahead of holiday season.
People in the UK are now spending less in department and electronics stores. Sales are still rising for concerts and movie tickets, as well as in pubs and restaurants.