Powered by Google

Sharp drop in consumer spending

Consumer spending saw its sharpest decline for 13 years between July and September, official figures have shown.

Household spending fell 0.2% on the previous quarter, the biggest drop since the beginning of 1995, according to the Office for National Statistics (ONS).

Overall national output fell 0.5% during the third quarter of 2008, unchanged from the ONS' first estimate in October.

Share