Consumer spending growth falls to 2013 levels,wiping £9m off index considered better indicator of UK economy than FTSE 100A worse-than-expected decline in retail sales volumes has sparked the biggest daily topple in the FTSE 250 since last summer, with shares in retailers, and housbuilders,restaurant chains and car dealers all going into reverse.
The index lost 2.1% after the grim retail data was published. Sales volumes fell by 1.2% in May– their slowest rate for four years – as rising prices caused consumers to tighten their belts. Economists had expected a 0.8% month-on-month decline. Related: UK retail sales slide as inflation bites, as DFS profit warning spooks City - trade live Continue reading...
Source: theguardian.com