UK records fall in retail sales
- 18 Dec 2020
Gulf Today Report
Retail sales in Britain declined last month following lockdown in England that led to the closing of non-essential stores.
The sales reduced by 3.8% in November, its biggest slip since April.
It is also in line with economists predictions after 1.3% increase in October.
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According to the Office National Statistic, annual sales slashed to 2.4% from 5.8%.
Since the pandemic, retail has retained its firm spot in Britain’s economy.
According to the Bank of England, the pandemic has caused Britain’s economy to shrink 11% in 2020, the biggest decline since 1709.
Across the retail sector, there are mixed data. Online retailers and supermarkets have recorded good results but the clothing retailers are struggling.
