Visa, which accounts for a third of credit card spending in the UK, reports that sales volume slipped by 1 per cent in December (first drop in this month in 5 years) as compared to this time last year and follows a 0.9 per cent drop in November; this means that over the calendar year sales fell by 0.3 per cent, the first annual fall since 2012. One shouldn’t be surprised seeing as wage growth hasn’t kept up with inflation.
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