UK consumer spending drops at fastest pace since 2021

UK households sharply pulled back on spending last month, posting the steepest annual decline in almost five years, as uncertainty around the government’s budget and rising economic concerns prompted consumers to delay Christmas purchases. Barclays reported that card spending fell 1.1% year on year in November, the biggest decline since February 2021, underscoring the fragility of consumer sentiment heading into the key festive period. While Black Friday delivered retailers their busiest t