Neil McCauley
16-06-2017, 09:39
A worse-than-expected decline in retail sales volumes has sparked the biggest daily fall in the FTSE 250 since last summer, with shares in retailers, housebuilders, restaurant chains and car dealers all going into reverse.
The index lost 2.1% after the grim retail data was published. Sales volumes fell by 1.2% in May– their slowest rate for four years – as rising prices caused consumers to tighten their belts. Economists had expected a 0.8% month-on-month decline.
The fall means retail sales were 0.9% higher than a year ago – the weakest rise since April 2013.
https://www.theguardian.com/business/2017/jun/15/uk-retail-sales-brexit-inflation-prices-pay-consumer-spending
The index lost 2.1% after the grim retail data was published. Sales volumes fell by 1.2% in May– their slowest rate for four years – as rising prices caused consumers to tighten their belts. Economists had expected a 0.8% month-on-month decline.
The fall means retail sales were 0.9% higher than a year ago – the weakest rise since April 2013.
https://www.theguardian.com/business/2017/jun/15/uk-retail-sales-brexit-inflation-prices-pay-consumer-spending