Uncertainty Dampens Spending as Retail Sales Slow Down

  • UK retail sales decreased by 1.1% in March
  • In-store sales of non-food items declined 1.5% over three months to March
  • Food sales increased 0.2% on a like-for-like basis and 1.3% on a total basis
  • Online sales of non-food products grew 3% in March, down from 7.9% growth in March 2018
  • Brexit uncertainty affects consumer spending habits
  • Retailers call for a Brexit plan to avoid negative consequences on consumers

UK retail sales took a hit in March, with a decrease of 1.1% compared to the same month last year. In-store non-food items saw a decline of 1.5% over three months and food sales increased by 0.2%. Online sales growth slowed down as well, with non-food products growing at 3%, down from 7.9% in March 2018. The BRC-KPMG Retail Sales Monitor reports that this is due to Brexit uncertainty causing consumers to hold off on spending. Retailers urge MPs to find a solution to avoid further negative impacts on shoppers.

Factuality Level: 9
Factuality Justification: The article provides accurate and objective information about UK retail sales figures, citing sources (BRC-KPMG Retail Sales Monitor) and including quotes from experts in the field. It also presents a balanced view of the situation, acknowledging both positive and negative aspects.
Noise Level: 3
Noise Justification: The article provides relevant information about UK retail sales and their performance in March, including comparisons with previous years and specific categories. It also includes quotes from experts in the field to provide context and analysis. However, it could benefit from more in-depth analysis of the underlying causes and potential long-term trends or consequences.
Financial Relevance: Yes
Financial Markets Impacted: UK retail sector
Financial Rating Justification: The article discusses a decrease in UK retail sales, which can impact companies within the retail industry and potentially affect their stock prices.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the text.

Reported publicly: www.retailsector.co.uk