Lloyds Bank

Consumer spending power growth suffers fall in January

22 February 2013

  • Spending power growth fell back in January as continued weak income growth put pressure on households.
  • Spending on essential items grew by 2.4%, down from 2.8% in December.
  • Weather conditions helped to peg back spending on automotive fuel in January, as annual growth rose marginally by 0.1% from a year ago.
  • Growth in spending on gas and electricity bills rose to 3.6% in January, reversing a trend of eight consecutive months of decline.
  • Consumer sentiment toward the wider economy remains depressed but improved slightly in January.
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