Economy

Shop sales slide in September

Government data gatherers say retail sales fell 0.3% in September, adding to signs that the UK economy could be about to weaken.

Share this article

Share this article

Government data gatherers say retail sales fell 0.3% in September, adding to signs that the UK economy could be about to weaken.

Economy

Shop sales slide in September

Government data gatherers say retail sales fell 0.3% in September, adding to signs that the UK economy could be about to weaken.

Share this article

Government data gatherers say retail sales fell 0.3% in September, adding to signs that the UK economy could be about to weaken.

The figure was worse than analysts’ expectations and was the steepest fall since January. Economists blamed the extended warm weather that convinced many to delay winter clothes purchases, but sales fell in other retail sub-sectors too.

Clothing and footwear sales plummeted 7.8% in September on the previous month, while shop prices slipped 1.4% year-on-year as retailers offered discounts to encourage purchases.

In the last few weeks growing concern over the strength of the German economy (the UK’s biggest trading partner in Europe) and China as well as other EU states has caused confidence to falter in the UK.

Wobbling house prices and stagnating real wages have also impacted on consumer sentiment, while George Osborne, the UK chancellor, has said the UK will not avoid fallout from the slowing Eurozone.

Related Articles
Get news to your inbox
Trending articles on News

Shop sales slide in September

Share this article