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


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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