The UK economy is set to see the slowest pick-up in consumer spending of any post recession period since 1830, according to an analysis of official forecasts by the Financial Times. The analysis found that families are expected to spend just slightly more by 2015 than when the global crisis hit in 2008, as slow wage growth, rising taxes and high inflation chip away at disposable incomes. The newspapers said that in the 18 major recessions since records began in 1830, Bank of England data shows that consumer spending on average recovered to 12% above its previous peak within seven years. However, forecasts from the Office for Budget Responsibility show that spending will be just 5.4% above the 2008 peak, making it the slowest recovery of any comparable post-recession period. Simon Kirby, an economist at the National Institute for Economic and Social Research, told the paper: “The recession may have been relatively benign for households, but the recovery is going to be particularly awful. “Everyone will hear and read about the economy growing in the news, its just that households are not going to notice it.”