High Street Hit as Britons Rein in Spending

29 July 2002

British consumers tightened their belts a notch during June, with retail sales falling at the steepest rate since February 2000, according to the Office for National Statistics.

Fuelling concern that hitherto resilient consumer spending is starting to suffer, sales tumbled 0.7% last month after a revised 0.5% drop in May, the first successive monthly decline since autumn 1998.

Data sourced from: The Times (London); additional content by WARC staff