Markit news and archive

UK consumer spending shows “resilience” in July

British consumer spending showed “resilience” in July, according to the latest survey from Visa Europe compiled by Markit. July spending was up 1.6 percent year-on-year, an improvement over June’s 0.9 percent increase and May’s 0.8 percent rise, and marking the biggest rise in three months. However, the spending increase is still lower than the...

Retail

Consumer spending slowed in June

Consumer spending has slowed amid economic and political uncertainty, with June seeing only a 0.9 percent annual rate of growth in the UK, according to Visa's UK Consumer Spending Index. The index, which was compiled by Markit on behalf of the financial company, is based on spending on Visa debit, credit, and prepaid cards, which together...

Retail

Consumer spending drops amidst Brexit fears

Consumer spending saw the slowest increase in more than two years in May as mounting uncertainty towards the EU referendum and a slowing global economy takes a toll on consumer confidence, according to a new report from Visa. Spending increased by just 0.8 percent annually in May, down from a 2.6 percent increase in April, according to Visa UK's...

RetailFeatured

UK consumer spending growth hits eight-month high

British consumer spending grew at its fastest rate in eight months in January, according to Visa’s consumer spending index, helped by a surge in clothing and footwear sales. Visa’s consumer spending index revealed that consumer spending increased by 2.7 percent on an annual basis in January, the highest growth rate since May 2014, and up from...

Fashion

Demand for Made in Britain clothing soars

Clothing that is made in Britain is growing in demand, according to the latest research. Consumers are seeking out mens and womenswear that is British-made following the collapse of a garment factory in Bangladesh last month. According to Markit/CIPS the demand helped UK manufacturing output soar to its highest level in more than a year in May....