British consumer is still spending, says Primark owner

London

ASSOCIATED British Foods (AB Foods), owner of discount fashion retailer Primark, said on Monday it was not seeing any signs that British consumers were starting to rein in spending, contradicting official data which has pointed to a slowdown.

Shoppers have driven growth in Britain's economy since the country's vote in June to leave the European Union. But they are widely expected to turn more cautious as prices rise following the fall in the value of the pound after the referendum.