Taxing Business

Retailers show lower sales post-Christmas

Retail sales suffered in the period after Christmas, with sales being 1.8% lower in the period between December and January. This is one of the biggest drops in the past year and a half.

It is thought that the sharp decline was due to the severe winter weather and snow that caused national disruptions throughout the UK. Despite the fall in sales numbers, the actual sales by value was up by 0.9% from the previous year.

According toan economic specialist there is now a risk of a double-dip in the UK economy, meaning that it comes out of recession then deteriorates again straight afterwards.