GRIM SALES DATA CAUSES SHARE SLUMP

[Cannydc]

A worse-than-expected decline in retail sales volumes has sparked the biggest daily fall in the FTSE 250 since last summer, with shares in retailers, housbuilders, restaurant chains and car dealers all going into reverse.

The index lost 2.1% after the grim retail data was published. Sales volumes fell by 1.2% in May– their slowest rate for four years – as rising prices caused consumers to tighten their belts.

The signs of distress included shoppers trading down from branded groceries to cheaper own label and more visits to discount food retailers.

About £9bn was wiped off the value of the FTSE 250 companies. The index is a better proxy for the health of the UK economy than the FTSE 100.

So, Sales down, Shares down, Inflation rising, Wages stagnated, House prices falling, Pound falling, Government in disarray.

Looking good for Brexit negotiations from a 'strong and stable position of strength', Theresa.

Well, it is on Planet Viper, and in Bury St Edmunds....

https://www.theguardian.com/business/20 ... r-spending