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Consumer spending tumbles
Household spending fell 1.9 per cent in the month to April, according to Visa’s expenditure index out today. On the year, spending was down 4.3 per cent, led by a 6.9 per cent fall on the high street. “The weather clearly had an impact on retail sales and unlike last year there was no Royal Wedding to buoy the month’s expenditure,” said Visa’s Steve Perry.