UK retail spend cut back

Consumers cut back on spending in August after a surprise post-Brexit splurge in July as hot weather put shoppers off going to the high streets, a survey showed yesterday.

Spending fell by 0.3% compared with August last year, down sharply from a 1.9% leap in July, the British Retail Consortium (BRC) said.

The BRC said it was the weakest reading since September 2014, excluding distortions caused by the timing of public holidays, but it did not appear to be a delayed reaction by consumers to the shock June 23 vote to leave the EU.