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.
UK retail sales saw a solid growth in the month of September as weather cooled down forcing Britons to buy warm clothes and shoes. According to the British Retail Consortium, year-on-year growth in British retail sales value accelerated between August and September. However British consumers are returning to shops with much attention. Yet the recent results show that there are chances that the economy is recovering slowly.