U.K. retail sales fall a bigger-than-expected 1.6% as inflation bites
Retail sales in the U.K. declined in August as falling households’ real incomes due to high inflation weighed on consumer spending on goods.
Retail sales volumes fell 1.6% on month in August, swinging from a revised 0.4% increase in July, the Office for National Statistics said Friday.August’s monthly fall was broad-based, with declines in all main sectors, the ONS said. The U.K. gross domestic product grew slightly in July, led by a rebound in the services sector, but economists broadly expect the country’s economy to face a recession in the coming quarters as the cost-of-living crisis hits consumption and investment.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Retail sales up 0.3% in Aug. from July amid inflationAmericans picked up their spending in August even as inflation nears a four-decade high.
Read more »
US: Retail Sales rise by 0.3% in August vs. 0% expectedRetail Sales in the US stayed increased by 0.3% to $683.3 billion in August, the data published by the US Census Bureau showed on Thursday. This readi
Read more »
Retail sales unexpectedly edge higher in August despite high inflationThe Commerce Department released new retail data on Thursday morning, revealing how consumers have responded to a decline in gas prices even as other inflation remains high.
Read more »
Retail sales unexpectedly edge higher in August despite soaring inflationThe Commerce Department released new retail data on Thursday morning, revealing how consumers have responded to a decline in gas prices even as other inflation remains high.
Read more »
China's Retail Sales, Industrial Production Beat Expectations in AugustAnalysts polled by Reuters expected a pickup in retail sales to 3.5% in August from a year ago and industrial production to hold steady with 3.8% growth.
Read more »
China’s August Retail Sales and Industrial Output surprise positivelyChina’s August Retail Sales YoY, unexpectedly jumped to 5.4% vs. 3.5% expected and 2.7% previous while Industrial Production YoY came in at 4.2% and 3
Read more »