UK retail recovery slows sharply as Covid rise deters shoppers
by Phillip Inman from Economics | The Guardian on (#59K86)
Consumer spending's loss of momentum in October signals flatlining of broader economy
Britain's retail recovery slowed sharply this month as the second wave of the Covid-19 pandemic persuaded many shoppers to hold back on planned purchases.
The loss of momentum, which affected retail and wholesale businesses, cut short a surge in sales during the third quarter and signalled a flatlining of the broader economy, which has relied heavily on consumer spending to boost growth.
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