TIMES ONLINE: The coldest winter since 1979 combined with the end of discounted VAT to send high street sales plummeting in January, according to new figures.
The data from the Office for National Statistics has stoked fears that the economy could be heading towards a double-dip recession.
The volume of goods sold by retailers fell by 1.2 per cent last month, the biggest fall since June 2008 and more than double the 0.5 per cent decline economists had expected.
The headline sales figure, including petrol and diesel for the first time, dropped by an even larger 1.8 per cent.
The data ended a dismal week of updates on the economy and pushed sterling to a nine-month low against the dollar.
Analysts said the figures did not bode well for the coming year. >>> Graínne Gilmore, Economics Correspondent | Saturday, February 20, 2010
