Summary
UK retail sales value last month was down 0.3% on May last year - industry figures reveal today - raising further worries over the strength of the consumer sector and the sustainability of broader economic recovery.
The British Retail Consortium, publisher of the figures, declares today that "customers' fundamental reluctance to spend is now clear to see". And it highlights a belief that the underlying picture is worse than the 0.3% year-on-year fall reported because the hike in value-added tax from 17.5% to 20% in January was "flattering" the value of non-food sales.See the full content of this document
Extract
Retail Sales Value Fell in May
It highlights "much weaker" non-food sales in May, and adds: "As the weather cooled, consumers...
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