UK recession fears grow as shoppers cut spending ‘to save for Christmas’

UK recession fears grow as shoppers cut spending ‘to save for Christmas’
By: The Guardian Posted On: November 07, 2023 View: 14

Drop in retail sales also because of consumer worries over high energy bills and mortgages, surveys suggestFears that the UK is heading for a recession this winter have intensified amid signs Britain’s hard-pressed households are cutting spending as they save for Christmas and higher fuel bills.Two monthly snapshots of retail activity found shops and online outlets struggling because of consumer budgets being squeezed by dearer mortgages and the UK’s lingering cost of living crisis. Continue reading...

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