Retail sales in the United Kingdom fell unexpectedly by 0.2{06aeb1921e0b802d2bd9c766bc98fb11cc6a46c2b0593ed9c88a0e29cf417a34} in June, as consumers purchased fewer goods, including food and petrol.
The figures from the Office for National Statistics (ONS) also showed the annual rate of sales growth slowed to 4.0{06aeb1921e0b802d2bd9c766bc98fb11cc6a46c2b0593ed9c88a0e29cf417a34}, down from 4.7{06aeb1921e0b802d2bd9c766bc98fb11cc6a46c2b0593ed9c88a0e29cf417a34} in the month of May.
That was the slowest annual growth rate since September 2014, and was unexpected according to analysts’ forecasts.
Nevertheless the ONS believe the annual growth rate was still “strong”.
Sales volumes in the April-to-June quarter were up 0.7{06aeb1921e0b802d2bd9c766bc98fb11cc6a46c2b0593ed9c88a0e29cf417a34} from the previous quarter.
The value of online sales in June increased by 1.4{06aeb1921e0b802d2bd9c766bc98fb11cc6a46c2b0593ed9c88a0e29cf417a34} compared with May and accounted for 12.4{06aeb1921e0b802d2bd9c766bc98fb11cc6a46c2b0593ed9c88a0e29cf417a34} of all retail sales.
Source: BBC News
This may mean retailers will face difficult time again, particularly cash flow problems in the short term. With numerous high street brands entering Administration in the last few years, we may yet see further fatalities.