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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

UK Consumer Spending grew in December

January, 09 2017
watermark Economic news

From the previous months of October to December last year recorded the highest growth on a quarterly basis with regards consumer spending in two years. The data is supported by the U.S based company, Visa. According to the research of the payment card company, the cash and card expenditures rose from its annual percentage of 2.8% during the fourth quarter, this increase is regarded to be the fastest quarterly expansion after 2014. The statistics were also based on the trading updates from the retailers Marks and Spencer (M&S),  Morrison Supermarkets and Tesco.
A multinational clothing retailer, Next was shocked as the retail sector presented a report regarding the unsatisfactory trading period during the holiday season and mentioned that this situation could worsen this year. The company approximately lost 20% within two days while shares for Debenhams and M&S were also affected. The sales of M&S for non-food products (clothing and homewares) had essentially declined by 6%, analysts said.
Morrison Supermarkets published its data on Tuesday during the Christmas week, whilst Tesco on Thursday. Experts supposed that reports of these shopping markets would indicate further LFL growth at 1%.

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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.