British retail sales dipped in the second quarter according to figures released today.
According to the Office of National Statistics consumers bought fewer household goods, pushing the annual rate of spending growth for the quarter to its lowest in more than two years.
Sales volumes dropped by 0.2 percent in June, and retail spending up just 1.3% on a year earlier. Both figures were well below analysts’ forecasts.
The disappointing figures fuel concerns over whether Britain is bouncing back the first quarter’s economic slowdown as quickly as initially thought.
Economists expect consumer spending to be positive in 2015; official data last week showed the fastest wage growth in more than five years.
