Retail sales in the UK flat-lined in August due to consumers cutting back on non-essential items. consumers have propped up Britain’s economy since the 2016 Brexit referendum, helping to offset cuts to investment spending by companies. 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. 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.