British spending still hasn't recovered from levels seen before the 2008 financial crisis

LONDON ' UK household spendingremained level at an average of528.90 a week in the financial year ending 2016, according to figures from the Office of National Statistics, unable to rise abovepre-crisis levels.London had the highest average weekly household expenditure of 652.40, the ONS said. The North East's average weekly spend was more than 200 lower at 423.50.The figures show"that in recent years spending has increased from its lowest level of 507.20 seen in 2012," the ONS said. "However, average spending has not returned to the pre-economic downturn levels of spending seen before 2007," the ONS said. Weekly spending went above an average of 550 a week in the years before the financial crisis.Here is the chart:And here is the breakdown of that spending:Expenditure on alcohol and tobacco has been steadily decreasing from 19.50 in 2001/02 to 11.40 in 2015/16, while spending on restaurants and hotelstopped45 a week for the first time in five years.Join the conversation about this storyNOW WATCH: Harvard economist Rogoff explains why he is so optimistic about the economy under President Trump
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