Yesterday we had data from Visa, today from the British Retail Consortium showing a steep drop in spending in the UK high street. Though overall spending rose by 1.1 per cent in Q4 2017, versus up 1.7 over the calendar year, non-food sales fell by 1.4 per cent in the three months to Christmas, the biggest drop since 2009. Food sales grew by 4.2 per cent, outpacing inflation’s 3.1 per cent rise.
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