Retail sales in Great Britain fall as struggling households cut back
Reported by The Guardian Business, not nibnow. We are not the publisher of this story, only the source is.
The drop in retail sales shows that households are cutting back spending, which can slow economic growth and affect businesses and jobs.
Latest negative economic update comes as John Healey prepares to announce budget next week Retail sales in Great Britain fell more steeply than expected last month, the latest negative economic update before the chancellor, John Healey, announces his budget next week. The Office for National Statistics (ONS) said the volume of goods sold fell 0.4% month on month in September, much steeper than economists’ consensus expectations of a 0.1% fall. Continue reading...
The Office for National Statistics tracks monthly retail sales volumes, a key indicator of consumer demand, and the chancellor’s budget outlines government fiscal policy that can respond to such economic trends.
- •The chancellor John Healey’s budget announcement next week
- •Potential policy measures aimed at supporting consumer spending
- •Future retail sales figures to see if the decline continues