Retail slump raises spectre of recession as Hunt looks more Truss-like by the day
by Phillip Inman from on (#6HZES)
Surprise fall in December sales damages chancellor's claims that UK economy is on right track
The UK economy was probably in recession during the second half of 2023 if the latest retail sales figures were anything to go by.
A surprise 3.2% slump in the level of sales in Great Britain during December appeared to show the cost of living crisis was continuing to hurt household finances despite a rise in wages that gave many consumers a bit more spending power.
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