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UK retail sales drop record low in March


April, 03 2020
watermark Economic news

Retail sales in the UK in March fell to a record low due to the fact that sales volumes declined and stores selling non-essential goods were forced to close amid a coronavirus pandemic.


Retail sales in stores fell by a record 34.1%, while overall comparable sales in stores and on the Internet, together fell by 17.9%.


Sales in clothing stores showed a record monthly decline: they fell by 40.4%, as consumer spending switched to essential goods. Home appliance sales fell 26.1%, the biggest drop since May 2018.


Sales on the Internet compared with the same period last year increased by 13.7% compared with a fall by 18.7% last year, as buyers switched to remote purchases on the Internet.


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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.