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?
On Friday, American Express reported a 9% rise in quarterly revenue, reaching a record high. This growth was fueled by robust spending from its wealthy customers. However, despite this positive news, the stock price of the credit card giant fell as much as 4.5% in morning trading. What caused this unexpected reaction from investors?