gentle weather and extended discounts blamed for worse than expected 1% decline in sales values from previous yearSpending in UK shops dropped final month,as gentle weather and deep discounting dented takings for retailers over the key Christmas period. Official figures point to that sales values fell at the fastest pace for more than six years, down 1% in December compared with the same time in 2014.
Mixed reports from big retailers since Christmas had pointed to weakness in UK retail sales, and but the decline was sharper than City economists had forecast,contributing to fears of a slowdown in the wider economy at the terminate of 2015. Related: Fears grow of repeat of 2008 financial crash as investors run for cover Related: The Guardian view on Marks & Spencer: challenge of the demand for choice | Editorial Continue reading...
Source: theguardian.com