Thu, 15 Nov 2012 16:03:15 GMT
Contraction of U.K. retail sales exceeds forecasts
U.K. retail sales dropped by 0.8% since September, Office for National Statistics said on Thursday. The actual number exceeded economists forecast, which was 0.1% decline. Sales contraction is mainly influenced by demand decrease for food, which has 41% share of retail sales. Consumers face difficulties to spend more, as inflation increases and economy is struggling.