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Average Retail Sales Growth Falls to its Slowest Pace Ever in Britain

In June, average sales growth at British retailers fell to 0.6% YoY, the slowest average pace of growth ever recorded, according to findings from a survey by British Retail Consortium (BRC).

Brexit concerns continue to weigh on the retail sector, which also suffered its biggest annual fall for June ever at -1.3%. Despite a growth in wages and a fall in unemployment, consumer spending has failed to rise over increasing worries about the possibility of a no-deal Brexit.

Retailers are also forced to spend considerable amount of money to mitigate potential risks of Britain’s departure from the EU without a deal, scenario that has often been discussed by the candidates vying for the PM post.

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Arslan Butt
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Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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