Brake on UK consumer growth, Visa figures show

British consumer spending increased at the slowest annual pace in more than three years in the first three months of 2017, in a further sign that one of the economy’s main engines is losing steam as Brexit preparations begin.

The survey by payment card company Visa may also undermine sterling.

Visa said real-terms spending increased 0.9% year-on-year in the three months to March, the weakest calendar-quarter performance since late 2013 and down from 2.7% in the last quarter of 2016.