The June Retail Sales Puzzle: Is the UK Economy Really in Trouble?

The recent release of June retail sales data in the UK has left many experts and analysts scratching their heads. According to official figures, sales volumes dropped by 1.2% last month, following a 2.9% rise in May. This was a much larger fall than predicted by Reuters' poll. So, why do British consumers seem unwilling to spend? Is the UK economy really in trouble, or is there more to this story than just a bit of rain?