Lawrence GashThe British Retail Consortium (BRC) has found that UK retailers experienced their worst September since their records began twenty five years ago.
Britons reportedly decided to spend their money on entertainment, keeping household spending low in the run up to Brexit. Online sales of non-food items were the worst ever recorded while spending on non-food items fell dramatically as spending on essentials rose.
The BRC also found that average growth over the last year slowed to 0.2%, the weakest rate since 1995. Total retail sales values declined by 1.3% compared with September last year.
Helen Dickinson, BRC chief, stated:
A survey by Barclaycard showed a 1.6 rise in broader consumer spending in September, which includes retail sales.
The Barclaycard survey showed 41% of Britons were “actively pessimistic” about their ability to spend on discretionary items, up 5% from August.
Both surveys had been due to be published on Tuesday but the BRC brought forward publication and Barclaycard followed suit.
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