Retail sales volumes fell in June despite food buying for the Jubilee celebrations, official figures revealed today.
The fall of 0.1% was driven by weaker fuel sales as a record high for pump prices affected demand. The Office for National Statistics also downgraded May’s figure to 0.8% lower and said the proportion of sales online fell to its lowest level since March 2020.
Fears of an advertising spending slowdown sent shares in Facebook owner Meta Platforms and Twitter lower after Snapchat owner Snap reported weaker-than-expected second quarter results last night.
