By David Milliken LONDON (Reuters) - British consumer spending growth lost pace last month, adding to signs of a weakening economy, despite a doubling ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSLONDON - British consumer spending growth lost pace last month, adding to signs of a weakening economy, despite a doubling in cinema takings after the release of the films"Barbie" and"Oppenheimer", Barclays data showed on Tuesday.
Spending on cinema tickets was up 101% on a year earlier, driving a broader rise in spending on entertainment. The Bank of England has raised interest rates 14 times since December 2021 and financial markets expect a further quarter-point increase to 5.5% this month, then a final hike to 5.75% before the end of the year.
Like-for-like sales growth, a measure which adjusts for changes in store space, rose to 4.3% in August from 1.8%.
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