U.K. Retail Sales Slump Most in Four Years After Brexit Vote
- CBI says its index dropped to the lowest since January 2012
- U.K. consumer confidence plunged in aftermath of referendum
A shopper checks her mobile phone as she stands on an escalator at the Westfield Stratford City shopping mall in London, U.K., on Thursday, Dec. 27, 2012.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
U.K. retail sales fell at the fastest pace in more than four years in July, signaling caution among consumers after the Brexit vote last month.
The Confederation of British Industry said its monthly retail sales index dropped to minus 14 -- the lowest since January 2012 -- from 4 in June. A gauge of the outlook showed stores anticipate a similar decline next month.