, UK retail sales drop just before holiday shopping season
Hopes that the U.K. economy is on the way back from the double-dip recession have been cooled by the latest data released by the British Retail Consortium. According to findings, British retail sales not only dropped sharply in the month of October but also increased at the slowest rate for almost a year as Britons cut down their spending only to basic products such as food and drink.
, Factory Slump Proves Recession Not Over So Soon
A review carried out by purchasing supervisors on Wednesday proved that the manufacturing sector in England had witnessed its quickest rate of shrinkage in July after a period of over three years. This piece of news dealt a harsh blow to hopes that the nation was soon going to get over recession.
