Economics
U.K. Recovery Shows Signs of Waning as Retail Sales Decline
- Report from CBI contrasts with ONS figures from September
- Department stores, clothing, groceries led weak performance
Restrictions and mounting concerns about job losses are weighing on consumers.
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Retail sales fell at the fastest pace since June this month, a fresh sign that the U.K.’s fragile economic recovery is faltering.
Demand at department stores and clothing outlets slumped, while grocery sales flatlined for the first time since the height of the national lockdown, according the Confederation of British Industry. A bleak outlook among retailers saw them cut orders with suppliers for an 18th month, even as they prepare for the traditionally busy Christmas shopping period.