British consumers spend less in January compared to the same period a year ago, causing spending last month to mark its first decline since 2013, according to a survey.
Visa, whose debit and credit cards are utilized for a third of payments in the UK, reported on Monday that consumers had a stronger control on spending for the traditional post-Christmas sales in the previous month.
Household spending declined by 1.2 percent in January against the same month in 2017, with spending in shops falling by 4 percent, Visa reported.
A decline in car sales affected the overall sales numbers too. But things were more upbeat for hotels and restaurants, as well as for hair salons and beauty product sellers, as consumers looked for little luxuries for themselves.
Britain's economic growth has fallen behind the more solid expansion in other affluent countries in 2017 as higher inflation since the Brexit vote and weak growth squeezed consumers' spending power.
Annabel Fiddes of IHS Markit said worries regarding Brexit were affecting consumer confidence. However, spending could gain momentum later this year as inflation is anticipated to retreat will wages increase more quickly, she added.
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