U.K. Retail Sales Slump at Fastest Pace Since July 2016: Chart

U.K. retail sales dropped at the fastest pace since July 2016 in the year through August, another sign of the increasing fragility of the nation’s consumers. Data from the Confederation of British Industry on Thursday showed 34 percent of retailers said that sales volumes were up in August on a year ago, while 44 percent said they were down -- going against economists’ predictions of a positive reading. An earlier report from the Office for National Statistics showed consumer spending grew just 0.1 percent in the second quarter.

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