stockmarket

British retail sales fall unexpectedly in August – business live









Full story: Retail sales in Great Britain fall amid supply chain disruption

Retail sales in Great Britain fell unexpectedly in August amid severe supply chain disruption and as consumers switched more of their spending from supermarkets to pubs and restaurants after the easing of pandemic restrictions.

The Office for National Statistics said retail sales dropped by 0.9% in August after a steeper decline of 2.8% in July. While spending remains above pre-pandemic levels, City economists had forecast a rise of 0.5%.

According to the latest snapshot, sales of food dipped by 1.2% on the month after the easing of hospitality restrictions had an impact, with people raising their spending on social activities such as eating and drinking in restaurants, pubs and bars.



READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.