Unfortunately our website is not optimised for your browser.

Consumer spending growth maintains momentum in Q2 2016

As Brits shrug off concerns about the European Union Referendum and the economic and political landscape

Tue Aug 02 04:00:00 EDT 2016

Consumer spending growth in Q2 rose by 3.1% year on year as the uncertain external environment failed to discourage spending. While the early part of the quarter saw weaker spend growth, with April only rising by 1.9%, May and June fared much better, with spend growth rising by 3.6% in both months as the weather improved and consumers learned to live with the uncertainty around the global economy and the EU referendum.

The same period last year also saw strong growth, with overall spend rising in May 2015 by 4.2%, and in June 2015, by a record 4.9%, as low inflation and higher wage growth gave households extra spending money.