UK retailers report the slowest growth in sales since the end of COVID-19 lockdowns

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UK retailers report the slowest growth in sales since the end of COVID-19 lockdowns

<p><a href="https://www.reuters.com/world/uk/uk-retailers-report-slowest-sales-growth-since-end-lockdowns-bdo-2022-09-08/" target="_blank" rel="nofollow">Reuters </a>on info from a survey by business consultancy BDO:</p><ul><li>Total like-for-like retail sales increased by 3.6% in August compared with the same month last year</li><li>online sales fell by 0.6%, their first decline since March</li><li>"September's results will show just how significant the pull-back in discretionary spending is likely to be this winter but clearly these results in August show that consumers are cutting their budgets," BDO Head of Retail Sophie Michael said.</li></ul><p>---</p><p>The pullback on discretionary spending is happening as households direct their spending towards essentials as prices for good, and particularly energy usage, soar. </p><p>---</p><p>The Bank of England is between a rock and a hard place with skyrocketing inflation and a slumping economy. </p>

                This article was written by Eamonn Sheridan at forexlive.com.

Source: UK retailers report the slowest growth in sales since the end of COVID-19 lockdowns

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