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“Amid all the record-breaking speed of the UK’s economic decline, one number stands out – the collapse in consumer spending,” Karim Yousfi, chief global strategist at Audacity Capital, said.

“With retail sales volumes falling by just shy of a tenth during the same period, the chances of Britons spending their way out of what is now officially a recession look slim.”

https://www.thenational.ae/business/economy/the-uk-s-economy-slips-into-recession-with-record-20-4-contraction-1.1062560 

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August 12, 2020

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