Tuesday, August 6, 2013

Time to use house as the cash machine again…

Visa Europe UK Expenditure Index

Dr Steve Perry, Commercial Director at Visa Europe said: “The heat wave may have raised our spirits but it appears to have tempered UK consumer spending in July with expenditure down by -2.4% on June and down -0.1% compared to this time last year." Paul Smith, Senior Economist at Markit said: “July’s Visa Europe: UK Expenditure Index provided a pertinent reminder of the challenges that remain for the UK. While the economic data flow in recent weeks has been encouragingly upbeat, we are still in the embryonic stages of real recovery. There will be an inevitable lag between positive business activity trends and meaningful growth in personal consumer spending taking hold, especially given the stagnation of wages and the erosion in real incomes of recent years." Click on image for pdf

Posted by stuartking @ 06:06 PM (1095 views)
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