Longest-Lasting Decline in UK Retail Sales in 25 Years

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UK retail sales unexpectedly fell for the fourth month in a row in August. That is the most prolonged consecutive contraction since measurements began 25 years ago.

 

Consumers bought less in supermarkets and department stores, for example, now that more people could go to restaurants and events again. Instead, Britons spent more on clothing and petrol-only on holiday trips and returning to the office.

Economists had expected small growth across the board, but the contraction was 0.9 percent in August compared to a month earlier. The decline was 2.8 percent every month in July, 0.1 percent in June and 1.4 percent in May. Concerns about consumer spending in the United Kingdom are increasing due to sharply rising prices and an increase in the number of corona infections.

Retailers also struggle with shortages of materials and personnel. A questionnaire found that in mid-August, a total of 6.5 percent of them were bothered by non-available products or services. In department stores, this was highest at more than 18 percent.

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