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Britain Retail Sales Slow Growth in July


August, 17 2017
watermark Economic news

The retail sales growth of Britain has slowed down in July which is already anticipated following a strong second quarter. Most shoppers lessen their purchases that are majority to be goods other than food which worsens the decline in consumer demand because of higher inflation.  


The statistics show a dropped of 1.3 percent year-on-year of the retail sales growth in volume terms which is lower the 1.4 percent increase in the forecast by economists according to a poll from Reuters. The annuals sales growth has been the slowest since November 2013 with a recorded figure of 1.8 percent.


On the other hand, wages in the second quarter were 0.5 percent lesser in real terms compared to 2016 which has been one of the largest decline since 2014. It is predicted that the consumer price inflation will rise by 3 percent in October compared to the current value of 2.6. An economist described the inflationary effect following the decline of sterling to diminish next year which could speed up the sales volume growth.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.