Consumer Spending in the UK Fell by 0.8% in July

Consumer spending in Britain are declining. Expenses of the British decreased for the third consecutive month in July, which is the longest period of decline since February 2013.

Total consumer spending, the engine of the British economy, fell by 0.8% last month compared with July 2016. According to analysts, such dynamics is another signal that the growth of consumer prices and the stagnation of wages put pressure on the British.