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Retail sales fall in June

Consumers - Retails sails suffered a slump in June - SantanderCB

Retail sales suffered a slump in June despite a spell of hot weather. Figures released by the Office for National Statistics show that retail sales dropped 0.2% from May. The ONS said food, household goods and petrol sales all fell during the month as average prices dropped 2.9%. Sales have been falling for the past five months, but growth remains stronger than at any time during the past nine years. June also marked the 28th consecutive month of growth in retail sales. Keith Richardson, Managing Director Retail Sector at Lloyds Bank Commercial Banking, said: 'Shoppers do not like uncertainty, and retailers will now be hoping that their horizons become clearer in the weeks and months ahead, and that that will be enough to encourage consumers to loosen their purse strings.'

 

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