UK public debt soars to highest since 1963, retail sales go down – Gulf Today

UK public debt soars to highest since 1963, retail sales go down – Gulf Today

A measure of British public debt leapt to close to 100% of the country's economic output in April, its highest in nearly 60 years, and retail sales slumped by a record 18% as the coronavirus crisis hammered the economy.. It was also far higher than a median forecast of 40 billion pounds in a Reuters poll of economists.. Central government spending leapt by 54% to over 109 billion pounds while receipts fell about 26% to 45.6 billion pounds.. Sales volumes slumped 18.1% in April from March, a slightly bigger fall than forecast in the Reuters poll..