UK retail sales declined more than expected in August as the cost of living crisis weighed on consumer spending, official data showed Friday.The retail sales volume declined 1.6 percent month-on-month, in contrast to July's revised 0.4 percent increase, the Office for National Statistics reported. Economists had forecast a moderate 0.5 percent decline. The monthly fall in sales volumes was the str...
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.