Consumer Spending Growth Softens In U.K. Post-Brexit: Barclays

The latest Barclaycard data reveals that consumer spending growth softened post-Brexit, with the Underlying Spending Growth Index dropping sharply in July to 5.3%, the lowest level since January 2014. Dennis Jose and colleagues at Barclays point out in their August 9 research piece titled “Barclays UK Spend Trends – Post Brexit: A slip but not a slide” that the severity of the imminent recession depends on the extent to which consumer confidence falls, despite headlines of the apocalypse. Barclays Home Improvement Index dropped to lowest level since June 2014 Barclaycard published the data underlying Barclays’ U.K. Spending Trends, providing insight…