New data revealed on Thursday that retail sales saw the lowest growth since April 2018.
Data from the Office for National Statistics showed that, in the three months to October, retail sales increased by 0.2% when compared to the three months prior.
Meanwhile, the quantity bought in the month of October declined by 0.1% compared to the month prior, and only fuel and department stores reported growth.
When compared to the year prior, retail sales grew by 3.1%; growth occurred across all sectors except for household goods stores, the data revealed.
“Looking at the three-month on three-month movement, from October 2016 sales were increasing at a steady rate until the beginning of 2017, when a short period of contraction was seen in the three months to March 2017,” the Office for National Statistics said in its report.
The Office for National Statistics continued: “From April 2017, sales began to recover and increase steadily, although at a slower rate. From January 2018, the quantity bought began to level for a short period until May 2018, when a faster rate of growth was seen during summer 2018. This was partly attributed to consecutive months of hot weather, as sales in the three months to June, July and August 2018 increased by 2.0%, 2.6% and 2.1% respectively. Slow growth followed for a period from October 2018 to February 2019.”
Retailers on the UK high street have been struggling as of late.
At the start of November, Mothercare (LON:MTC) announced that its UK business was on the edge of collapse.
Elsewhere, names such as Bonmarché, Karen Millen and Coast and Links of London have also fallen victim to the crisis to hit the UK high street.
