British Retail Sales are Plummeting in Crisis. UK retail sales fell at a record pace in April due to lockdown measures against the coronavirus.
According to figures from the British National Statistical Office, sales plummeted by more than 18 percent compared to March, when a decline was also seen.
It is the most muscular contraction since the measurements started in 1988. Due to the restrictive measures, many shops were closed, and people stayed at home en masse.
The decline in retail sales in Britain was more pronounced than economists expected. Restrictive measures are now being relaxed in Great Britain.
Market researcher GfK also released new figures on British consumer confidence.
Confidence in the British economy remains very low, for example, due to concerns about the sharp rise in unemployment due to the crisis.