U.K. Consumer Spending Sluggish Rate Amid Brexit

The U.K. consumer spending rose but in a sluggish manner that is considered to be the slowest in more than three years in March 2017. With the Brexit preparations began its process, the economy has lost its impetus.

The data in March alone dropped to 0.7 percent lower than the prior month after reaching a flat status in February. Another data from Visa also indicates that the consumer spending tumbled after raising its levels in late 2016 as the household purchasing power becoming tight with rising prices. The consumer prices are predicted to ascend by 2.3 percent annual rate similar to February’s rate according to Reuters survey of economists.On the other hand, the National Statistics Office released their inflation data for the previous month on Tuesday.