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英国零售销售额连续5月下滑,消费者信心大跌

Retail sales in the UK have fallen for five consecutive months, and consumer confidence has plummeted.

智通財經APP ·  Oct 22, 2021 04:30

The latest figures show that UK retail sales fell unexpectedly for the fifth month in a row, indicating a sharp decline in UK consumer confidence and further evidence that the country's economic recovery is losing momentum.

Sales of brick-and-mortar stores and online goods fell 0.2 per cent last month, the Office for National Statistics (Office for National Statistics) said on Friday. Economists had expected an increase of 0.6%. Despite panic buying during the supply crisis, it was the longest consecutive decline in the data since records began.

The figures point to both weakness in spending and a major shift in consumption patterns. Although total sales are still higher than before the outbreak, sales of clothing and department stores have declined. Sales of food and fuel increased, and sales of clothing stores increased on a monthly basis.

Darren Morgan, director of economic statistics at the Office for National Statistics, said: "despite the lifting of travel restrictions, in-store retail sales are still low and many consumers still choose to shop online."

Policymakers at the Bank of England are concerned that consumer spending after supply shortages and the end of the social blockade are exacerbating inflationary pressures. Financial markets expect the Bank of England to raise interest rates next month, although Huw Pill, the BoE's chief economist, said in the media on Thursday that the decision was a "delicate balance".

As the Bank of England turns its attention to inflation, consumers are feeling the effects of higher prices, higher taxes and shortages of goods in stores. These problems have strained household finances and contributed to a sharp decline in confidence in the economic outlook.

Niraj Shah, an economist at Bloomberg, said: "UK retail sales fell unexpectedly again in September, increasing the downside risk of economic growth figures in the third quarter. Soaring inflation could lead to lower living standards, hurting the outlook for the last quarter of this year. "

Helen Dickinson, chief executive of the British Retail Association, said: "retailers worry about a decline in sales as they begin to prepare for the crucial Christmas." "fuel shortages, wet weather and low consumer confidence have all led to a drop in consumer demand this month, with household goods, furniture and books particularly hard hit."

Last month's drop in oil prices was all the more surprising because of panic buying during the supply crisis. According to the Office for National Statistics, fuel sales rose 2.9 per cent in the month, exceeding pre-epidemic levels. This has boosted sales at some gas stations but hit other gas stations that are in short supply.

Earlier on Friday, another survey by market research firm GfK showed that consumer confidence fell sharply in October.

"what is most worrying is how consumers view the future economy," said Joe Staton, director of customer strategy at GfK. "against the backdrop of depressing news such as food and fuel shortages, soaring inflation, tight household budgets, possible rise in interest rates and the rising COVID-19 epidemic, it is not surprising that consumers are depressed."

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