Albeit having a 0.3% increase in retail sales turnout, the British experienced the worst July of their retail sales history.
The British Retail Consortium revealed the figures for the month of July that posted the worst month of July amidst the Brexit fears among consumers.
The 0.3% increase of July this year is far from July 2018’s retail sales turnout rise with 1.6%. According to the consortium service, July 2019’s increase rate in retail sales is by far the worst increase since 1995.
The National Statistics’ official release of sales turnout was stronger than retail industry surveys have posted. It has disproved economists’ forecast of weaker turnouts in sales.
The lower turnout of sales figures is directly attributed to the forthcoming no-deal Brexit in September as consumers tighten their belt in purchasing goods and services.