U.k. retail sales shrink at fastest pace since financial crisis

by MR Magazine Staff

U.K. retail sales fell at their fastest pace since the financial crisis in the year to June, as relatively poor weather kept shoppers away from stores, according to the Confederation of British Industry. The volume of goods sold slumped by the most since March 2009, with almost one-in-six stores saying they sold less than the same time a year ago. Motor traders reported the fastest sales shrinkage in 7 1/2 years, although non-store sales, which include online purchases, bucked the trend to remain broadly flat. Read more at Bloomberg.