UK retailers to signal health
The raft of business updates will be scoured for signs of fallout from Brexit on strength of spending by households
London — British consumers, who helped the economy emerge largely unscathed from the Brexit vote, face their next big health check. A week after Next offered a grim outlook for 2017 following a downbeat holiday selling season, Marks & Spencer Group, department-store chain Debenhams, grocer J Sainsbury and other retailers are set to provide business updates. Their insights will be scoured for clues on household spending and whether the economy will continue weathering the UK’s decision to leave the EU. Consumer confidence has held up surprisingly well since the June EU vote, and borrowing is surging. But the coming months pose a challenge for consumers — even those as seemingly unflappable as Britain’s. An expected sharp upswing in inflation and uncertainty over the economic outlook could threaten households’ capacity to splurge. "We’ve seen pretty strong rates of both retail sales and overall spending growth," said Paul Hollingsworth, an economist at Capital Economics in London. "Bu...
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