The Trader 

Market Outlook: Result of ‘Beast from the East’

The Trader

In the first week of March, when Arctic conditions hit Britain, shoppers literally froze, footfall on the High Street off a massive 17.5 per cent.  Data from BDO showed that retail sales fell by 10.1 per cent Y/Y – the second worst like-for-like data ever, according to City AM.  ‘’Shoppers’ reaction showed how paper-thin consumer confidence is currently; they couldn’t get to the shops but they weren’t spending online to make up the shortfall’’, said Sophie Michael, BDO head of retail.  The weather also affected PMI readings for the services sector, 51.7 in March and the lowest since the Brexit referendum.

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