UK recession fears grow as shoppers cut spending ‘to save for Christmas’
by Larry Elliott Economics editor from Economics | The Guardian on (#6G5V0)
Drop in retail sales also because of consumer worries over high energy bills and mortgages, surveys suggest
Fears that the UK is heading for a recession this winter have intensified amid signs Britain's hard-pressed households are cutting spending as they save for Christmas and higher fuel bills.
Two monthly snapshots of retail activity found shops and online outlets struggling because of consumer budgets being squeezed by dearer mortgages and the UK's lingering cost of living crisis.
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