UK retail sales report sharpest quarterly decline since 2010
U.K. retail sales reported the sharpest quarterly fall in seven years in the first three months this year, as the rise in prices dented household spending.
Sales volume slipped 1.4 percent from the last quarter of 2016, the strongest since early 2010, while sagged 1.8 percent in March, coming below analysts’ projections of 0.3 percent slide.
The year-on-year reading showed that sales volume was 1.7 percent up in March, compared to a previous of 3.7 percent.
As of 11:20 GMT, the pound traded lower versus
the U.S. dollar at 1.2773 from the session’s open at 1.2811.