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Olympics dents UK retail sales

Retailers failed to bask in the glow of Team GB's Olympic success last month after figures showed the sector's worst sales this year.

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BRC: 'Labour market hopes the only good news'

The British Retail Consortium said;

"The survey dilutes hopes that the holding of the Olympic Games has had a significant overall boost to the UK economy in the third quarter (although there will be a positive impact from the ticket sales) and it also underlines the fact that consumers are still facing very difficult times.

Clothes hang on a rail as sales dropped in August Credit: Reuters

"On the positive side, the labour market is currently remarkably resilient with employment rising while consumer price inflation has halved from the September 2011 peak of 5.2%, but that is the main good news at the moment."

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