UK consumer spending growing at weakest rate in nearly three years

Concerns over inpact of incomes squeeze as business investment shows no growth in second quarter

Spending by British consumers is growing at the weakest rate in almost three years, as households squeezed by rising prices tighten their belts.

Household spending growth slowed to 0.1% in the three months to June, the Office for National Statistics said, the slowest rate of quarterly growth since the final three months of 2014. Business investment in the British economy showed no growth at all in the second quarter.

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