Sector movers: Retailers in the red as consumer spending worries worsen

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Retailers were the big drag on the FTSE 350 today as survey data showed households continued to show caution on spending.

UK households spent less for the second month in a row in June, Visa said in its monthly consumer spending index, dropping to its lowest quarterly level for three and a half years.

There was a 5.8% decline for transport & communication, a 3.4% fall for household goods, a first monthly drop for recreation & culture in four years and and a much smaller dip for clothing & footwear than than the previous month’s five-year plunge.

 

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