Retail sales fell in the UK

The volume of retail sales in the UK declined in the first quarter of this year 1, 4 %. According to the National statistical office of great Britain, this decline was not observed in 2010.

24.Apr.17 8:39 AM
By Christina Orlina
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Analysts believe that the reason is the reduced consumption of British families due to the instability and lack of visibility in the beginning of brexit. We should add that retail accounts for around 6 % of UK GDP.

“The decline in retail sales has reached the maximum performance over the past 5 years and is at the level of 3.2%, says Mike Graham, an analyst at the market units of BGC PARTNERS. – And this situation is inevitably reflected in the prices. Moreover, given the tense situation with wage growth, the purchasing power of Britain obviously falls down.”

You cannot ignore the depreciation of the pound sterling since then, how the Prime Minister used the 50-th article of the Lisbon agreement and announced early elections on June 8. Economic growth will also slow down. A number of British media call rate of 0, 4% in the first quarter of the current year, whereas in the fourth quarter of last year it amounted to 0.7 % (official data should be published next week).

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