A report released Thursday morning by the UK Office of National Statistics revealed a sluggish month for retail sales in the island economy. The impact so far has been to drag on the already-downtrodden British pound (GBP).
Expectations for the report were for a growth of roughly 0.3% in the ever-important retail sector. With today's figure coming in near 0.2%, the slow-down is only confirming what many were expecting for the upcoming quarter; mainly, that manufacturing demand and consumer spending will see steady declines.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.