P14 westfield shopping centre
6 November 2012
The retail sector suffered its worst sales growth for 11 months in October, raising alarm bells over the fragility of consumer spending ahead of the crucial Christmas trading period.
Despite the boost from new stores and inflation, total retail sales rose by a lacklustre 1.1% last month, with the slow down happening across the High Street, including online, according to the British Retail Consortium and KPMG survey. Like-for-like sales fell by 0.1% in October.
Stephen Robertson, the BRC’s director general, said: “The disappointing figures are a reminder of the difficult economic realities many are still facing. Falling consumer confidence means people are limiting spending to essential items.”
