Fall in retail sales in Great Britain signals high street recession
by Phillip Inman and Graeme Wearden from Economics | The Guardian on (#6GERD)
Volumes drop 2.7% year on year in October as high interest rates and poor weather drive away shoppers
Retailers in Great Britain suffered a slump in sales in October as the impact of high borrowing costs and rising prices signalled a high street recession in the run-up to Christmas.
Bad weather also played a part in a 2.7% year-on-year fall in retail sales that the Office for National Statistics (ONS) said hit clothing and household goods stores the hardest.
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