Retail sales in the UK flat-lined in August due to consumers cutting back on non-essential items. Annual total sales growth for the year fell from 0.3% in July to zero last month, according to the British Retail Consortium. The ONS said that while there was a slight increase in consumer spending, it remained below its pre-crisis peak of £2.3tn between 2007 and 2008.
Retail sales in the UK flat-lined in August due to consumers cutting back on non-essential items. Annual total sales growth for the year fell from 0.3% in July to zero last month, according to the British Retail Consortium. Experts have warned that the drop in household spending increases the risk of the UK entering a recession.