There was an unexpected decline in retail sales in the UK in September, which fell to its lowest level since May 2010.
The Confederation of British Industry in the report stated the reading fell to -15 in September from -14 in August.
This was worse than what many analysts expected, because they foresaw the figure to be at -14.
The GBP/USD has already lost about 0.2% of its value against the Dollar in today’s trading, and there is much more downward pressure on the British economy.
The British economy is in very bad shape, and just when the British government was getting their act together, events seem to take a turn for the worse.
British Prime Minister David Cameron has been cutting benefits and cutting costs wherever possible, but this has failed to push things higher for Britain’s fortunes.
The next week will be crucial for Britain to see which way her economy and currency are going.
