Monday 19 August 2019

UK retail slips again

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Andy Bruce, William Schomberg

Cold weather in May prompted the biggest drop in British retail sales this year as shoppers put off buying summer clothes. The spending delay added to signs that the UK economy, struggling for momentum ahead of Brexit, is set for a weak second quarter.

Monthly retail sales volumes contracted 0.5pc, the Office for National Statistics said, as expected in a Reuters poll of economists and following a 0.1pc fall in April.

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The second consecutive monthly slide in retail sales does not bode well for overall growth in the second quarter for an economy struggling with Britain's Brexit crisis.

Reuters

Irish Independent

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