date:Jun 03, 2013
UK retail sales volumes slumped to their lowest level in over a year in May as consumers' finances continue to be squeezed by rising prices and slowing earnings growth, while retailers' investment plans also declined, figures showed Wednesday.
The Confederation of British Industry's retail sales survey fell to a balance of -11 in May. That was the steepest drop since January 2012 when the balance was -22 and compares with -1 in April.
The balance is calculated by subtracting the number of reta