UK sales knocked down by Brexit chaos
As Brexit approaches in less than 100 days, British retailers recorded the longest period of failing sales for almost 8 years. This is reflected in department stores, clothes shops and retailers selling other consumer goods such as jewellery and flowers. The British Retail Consortium reports that total retail sales fell by 1.3% in June 2019, as British customers are cautious about major purchases and concerned about a recession. Due to this fall in sales and uncertainty of a ‘No Deal’, retailers placed lower orders with suppliers. According to the Confederation of British Industry, the confidence index of retailers dropped from -16 in July 2019 to -49 in August, the 2nd weakest reading since records began in 1983. Retailers are increasingly worried about a ‘No Deal’ Brexit just before the Black Friday and Christmas period.