British Retailers On Edge As Sales Dive At Fastest Pace Since The Financial Crisis

by MR Magazine Staff

More retailers reported falling sales this month than at any point since March 2009 as British shoppers cut back on spending in food shops, department stores and furnishing specialists. Prices are rising faster than wages, squeezing the finances of many households and denting their ability to buy more in the shops. However, spending did rise on recreational goods and DIY kit, the Confederation of British Industry said, indicating that it is not all doom and gloom. Retailers expect sales in November to be back at normal levels, indicating that they hope this dive in sales is a one-off drop in a relatively volatile index. Read more at The Telegraph.