British shoppers ignored worries about an impending Brexit deadline and spent he...
LONDON - British shoppers ignored worries about an impending Brexit deadline and spent heavily in March, official data showed on Thursday, supporting the country’s sluggish economy while companies were cutting back on investment.
The increase in part reflected the slowdown in spending a year ago, when Britain was hit by the so-called Beast from the East snowstorms and icy weather, officials at the Office for National Statistics said. Warm weather in March this year helped increase spending on clothes, the ONS said.Britain was originally due to leave the European Union on March 29, but that deadline was pushed back to April 12 and then again to Oct.
In the first three months of 2019, a smoother reading of spending patterns, sales grew by 1.6 percent compared with the previous three months, the strongest increase since August 2018.Consumer spending has supported Britain’s sluggish economy through the Brexit crisis, in contrast to businesses, which have cut back on investment. Falling inflation, rising wages and the lowest unemployment since 1975 have boosted household incomes.
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