FTSE 100, European stocks and US indexes lower as manufacturing data disappoints
Yahoo Finance UK reporter Vicky McKeever writes:
Consumer card spending rebounded in August, after falling for two months in a row, as the late summer heatwave helped lift spirits.
Barclays said consumer spending on its debit and credit cards rose 1% year-on-year in August, having dipped 0.3% in July and 0.6% in June.
Spending on groceries was up 1.9%, representing its biggest increase since March. The bank said that this was fuelled by a surge in shopping at specialist food and drink stores, such as butchers and delicatessens, which saw spending up 5.1% with the arrival of picnic and barbecue weather.
Garden centres also benefitted from the late summer sunshine, with spending up 8% in August, as warmer weather encouraged Brits to invest more money in their outdoor spaces.
Even as shoppers continued to try to make cutbacks, nearly half of consumers surveyed said that they continued to spend money on small luxuries with sweet treats found to be the most popular type of pick-me-up.
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