UK shoppers rein in spending as sales show first drop since March [Reuters]
TESCO PLC S/ADR (TSCDY)
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Source: Reuters
UK shoppers rein in spending as sales show first drop since March | Reuters 2 Min Read LONDON, Jan 18 (Reuters) - - British retail sales fell for the first time since March during the three months to December, confirming a slowdown in consumer spending as Brexit draws near, official data showed on Friday. Retail sales volumes fell 0.2 percent in the fourth quarter after a 0.2 percent rise in the three months to November. Friday’s data chimed with other signs that consumer spending is cooling after a strong summer, fuelled by warm weather and the soccer World Cup. In December alone, sales fell 0.9 from November and were 3.0 percent higher than a year earlier, below economists’ forecasts in a Reuters poll for a 0.8 percent monthly drop and a 3.6 percent annual gain. A survey last week from the British Retail Consortium showed retailers failed to increase their Christmas sales for the first time since the depths of the global financial crisis a decade ago. Supermarkets Sainsbury’s and Mo
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