UK retail sales fell sharply in July to -43% due to unfavorable weather and market uncertainty.
The CBI's Distributive Trades Survey reveals UK retail sales fell sharply in July to a balance of -43%, mainly due to unfavorable weather conditions and market uncertainty. This is the lowest reading since April. Retailers anticipate sales to remain below seasonal norms in August. The downturn contrasts with the rest of the economy, where wages are now rising faster than inflation and overall output has increased.
July 29, 2024
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