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Bigger-Than-Expected Fall In Retail Sales

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More evidence of consumer weakness emerged today after official figures showed a sharper-than-expected drop in sales volumes last month.

Retail sales declined 0.8% month-on-month in February after a 1.9% hike in January, the Office for National Statistics (ONS) said.

The fall in spending, which was bigger than the 0.6% drop expected by economists, came after consumers brought forward purchases earlier in the year to take advantage of post-Christmas sales and to beat the rise in VAT to 20%.

February also saw a record-breaking 2.4% jump in monthly average prices by non-fuel retailers.

The recovery consumer boom is here. Just think how all of this will improve tax revenues for Osborne.

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  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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