Following a 1% fall in December, Visa card spending fell 1.2% in January as high street shopping and transport spending declined.
(“Consumer spending falls to its lowest in 5 years”) and the latest gloomy BRC-Springboard survey of customer footfall hits the front page of City AM (“Shops suffer dismal start to the year”).
The Visa survey came as the BRC-Springboard Footfall and Vacancies Monitor reported that footfall across the country dropped 1.6% year-on-year, an improvement on the 3.5% decrease a month earlier. It was, however, the worst performance in January in five years and also came well below the yearly average of -0.7.[/private]