Figures show pre-Christmas spending slowdown

Visa says shops suffering as sterling, Black Friday boost online buying

7th December, 2016
Uncertain Christmas prospects for retailers. Pic: RollingNews.ie

Figures from payments group Visa show signs of a slowdown in consumer spending ahead of the key Christmas shopping season. This is despite a surge in online shopping, partly driven by the fall in sterling.

Visa’s Irish Consumer Spending Index, compiled with IHS Markit, showed that overall spending in November was 3.9 per cent ahead of the same month last year.

November’s growth was the weakest in 18 months and represented the second successive...

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