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January retail sales rally, then plummet

in News by . .

After a dismal December, retail sales rally in January – but plummet again as “consumer caution” restrains customers.

Robertson echoed many economists’ warnings that, in the midst of consumer uncertainty and declining demand, government cuts could choke recovery: "Turning round consumer confidence is central to turning round the economy. A range of pressures is bearing down on customers. As it considers the Budget, the government must not add any more."

Pressure is mounting on Chancellor George Osborne, as economists and business owners call for him to rethink the severity of his planned cuts.

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