YEAR-on-year growth in UK retail sales value slowed sharply in July, to a sub-inflation rate, fuelling fears over consumers' ability to help the economy clamber out of renewed recession.
A survey published today by the British Retail Consortium shows the total value of UK retail sales last month was up 2% on July last year. This represents a sharp deceleration in the year-on-year growth rate, with the value of sales in June having been up 3.5% on the same month of 2011.
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