Retail sales stall as cool summer hits fashion
Like-for-like UK retail sales were flat in May compared to the same month in 2014 as a cool start to summer led to disappointing fashion sales, according to the British Retail Consortium. This is the first time since December that retail sales have failed to grow, excluding distortion connected to the timing of Easter. The data suggest that the economic upturn has yet to filter down to households – retailers are increasingly concerned that the Chancellor's new austerity measures will adversely affect consumer spending. Like-for-like sales grew 0.5% over the last quarter – food sales fell 1.4% while non-food sales rose 2.1%.
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