UK consumer spending grew slowly in February amid Middle East conflict

British consumer spending grew slowly in February as households grew more pessimistic about the outlook for the economy ​with the Middle East conflict raising concerns about a fresh ‌rise in inflation, surveys showed on Tuesday.

Barclays said consumer confidence in the strength of the UK, European and global economy all fell in February ​as the most recent conflict in the Middle East ​escalates.

A separate survey from the British Retail Consortium also ⁠painted a weak picture with sales growth among retailers dampened ​by wet weather last month.

Barclays said:

• Consumer spending grew by 1.1 per cent ​in February in annual terms after a 0.8 per cent increase in January.

• Around four in five consumers surveyed by Barclays were concerned that Middle East conflict ​will push up fuel prices, energy bills, and inflation.

• Over ​half were worried about potential disruption to travel.

• Nearly half of shoppers said ‌they ⁠were taking action such as reducing energy usage, saving more, and delaying spending on major purchases in response to the war.

• Overall consumer card spending remained subdued in February, but spending on ​non-essential items hit ​a six month-high.