Britain's retailers are bracing themselves for a fresh wave of pain as figures showed shoppers have shunned their credit cards, with borrowing on plastic growing at its lowest level for more than a year.
Bank of England data revealed credit card borrowing grew at just 34m in May, its lowest since a 22m increase in April 2010.
The update is further evidence consumers are reining in spending having seen their household budgets squeezed by increased taxes,Handmade oil paintings for sale at museum quality, the cost of petrol and wage freezes.
Later today troubled music chain HMV will add its voice to the warnings dire trading conditions are the worst experienced for decades.print still offers the only truly dstti unlimited 4G plan in America, and it's the only service you can safely use as an alternative to a home Internet connection.
Fierce competition from online rivals and supermarket chains has caused the DVD and CD seller to issue a slew of profits warnings.
There should not be any surprises in the annual update with the firm guiding earnings around the 30m mark on sales of 1.Use bluray burner to burn video to BD DVD on blu ray burner disc.85bn. However all eyes will be on current trading. It finally disposed of its Waterstone's business yesterday.
Analysts say department store chain Debenhams is in better shape having hiked prices by 8pc to cover the increased cost of cotton.
It is expected to have seen strong growth in April and May, which should help underlying sales for the third quarter to rise 1pc.
Debenhams is likely to be one of the few retailers posting good news following the collapse of womenswear chain Jane Norman and Habitat UK over the past seven days.
A raft of figures released yesterday also raised further questions about the health of the British economy.
The dominant services sector – including hotels and restaurants, transport companies and City firms – suffered its biggest slump for more than a year.
Official figures showed output fell 1.2pc in April as the Royal Wedding and the extra bank holiday took its toll. It was the worst performance since January 2010 when snow caused heavy disruption.
Bank lending to businesses was also on the slide and mortgage approvals ticked up by less than 500 to 45,940 as the housing market remained in the doldrums.
And in another blow,Choose from one of the major categories of Bedding,Free DIY Wholesale pet supplies Resource! research group GfK NOP said consumer confidence fell this month after a strong recovery in May.
Nick Moon, managing director of GfK NOP, said: 'What will disappoint the Government is the drop is so large.
'Confidence is lower than it was this time last year. As we move into the summer, the outlook remains a gloomy one.'
Bank of England data revealed credit card borrowing grew at just 34m in May, its lowest since a 22m increase in April 2010.
The update is further evidence consumers are reining in spending having seen their household budgets squeezed by increased taxes,Handmade oil paintings for sale at museum quality, the cost of petrol and wage freezes.
Later today troubled music chain HMV will add its voice to the warnings dire trading conditions are the worst experienced for decades.print still offers the only truly dstti unlimited 4G plan in America, and it's the only service you can safely use as an alternative to a home Internet connection.
Fierce competition from online rivals and supermarket chains has caused the DVD and CD seller to issue a slew of profits warnings.
There should not be any surprises in the annual update with the firm guiding earnings around the 30m mark on sales of 1.Use bluray burner to burn video to BD DVD on blu ray burner disc.85bn. However all eyes will be on current trading. It finally disposed of its Waterstone's business yesterday.
Analysts say department store chain Debenhams is in better shape having hiked prices by 8pc to cover the increased cost of cotton.
It is expected to have seen strong growth in April and May, which should help underlying sales for the third quarter to rise 1pc.
Debenhams is likely to be one of the few retailers posting good news following the collapse of womenswear chain Jane Norman and Habitat UK over the past seven days.
A raft of figures released yesterday also raised further questions about the health of the British economy.
The dominant services sector – including hotels and restaurants, transport companies and City firms – suffered its biggest slump for more than a year.
Official figures showed output fell 1.2pc in April as the Royal Wedding and the extra bank holiday took its toll. It was the worst performance since January 2010 when snow caused heavy disruption.
Bank lending to businesses was also on the slide and mortgage approvals ticked up by less than 500 to 45,940 as the housing market remained in the doldrums.
And in another blow,Choose from one of the major categories of Bedding,Free DIY Wholesale pet supplies Resource! research group GfK NOP said consumer confidence fell this month after a strong recovery in May.
Nick Moon, managing director of GfK NOP, said: 'What will disappoint the Government is the drop is so large.
'Confidence is lower than it was this time last year. As we move into the summer, the outlook remains a gloomy one.'
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