Business News Asia
The Office for National Statistics (ONS) announced that UK retail sales fell 1.6% in August from the previous month. This is worse than expected and the sharpest decline since December 2021.
Economists expect UK retail sales to fall 0.5% month-on-month in August.
ONS notes that all key sectors, both grocery and non-food, including non-storefront retail and fuel, declined in August. The last such case occurred in July 2021, when all restrictions on the service sector are lifted.