Retail Sales Unexpectedly Fell In August 2019
According to the financial times, the retail sales in Britain in August (2019) unexpectedly fell, ending the mild growth in the first two months, and also causing social concerns about consumer spending elasticity.
The National Bureau of Statistics (ONS) said retail sales in August dropped by 0.2% from last month. Retail sales reported a sharp decline in sales in August compared with last month, while sales in the online retail industry in August were the most significant. The main reason for this decline was the Amazon annual sales promotion in August. Rhian Murphy, head of retail business at the National Bureau of statistics, said retail sales are still the biggest driving force for the growth of the retail industry.
However, these data do not show potential non agreement or the depreciation of the pound to strike consumer spending. Next, the biggest clothing retailer in Britain, said the sales decline seemed to reflect the unusually warm climate rather than Britain's worry about Europe. John Lewis, a chain store in the United Kingdom, said that the potential non agreement to depart Europe could exacerbate the already difficult business situation after the first half of the year increased operating losses.
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