IMF Concerned About Slowing Growth As UK Stocks Dips

As retail stocks continue to fall in UK, the International Monetary Fund (IMF) and the World Bank have began to show concern about the slowing growth and gloom and around global economies

On Friday, retails shares in the fell just as central banks preparing for more rate hikes.

Retail sales are expected to fall further in September than what was experienced in August, showing that the British is gradually slipping into recession.

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Blue-chip FTSE 100 (.FTSE) declined 0.4% at 0710 GMT, while mid-cap FTSE 250 (.FTMC) shed 0.8%, both on track to end the week lower.

Retailers (.FTNMX404010) slid 1.6%. UK fashion retailers ASOS (ASOS.L) and Primark-owner Associated British Foods (ABF.L) and online supermarket Ocado Retail, a joint venture of Ocado Group (OCDO.L) and Marks & Spencer Group (MKS.L), have all warned about their profits this month.

Mining stocks (.FTNMX551020) declined 2.8%, leading losses on the commodity-heavy FTSE 100.

Retailers (.FTNMX404010) slid 1.6%. UK fashion retailers ASOS (ASOS.L) and Primark-owner Associated British Foods (ABF.L) and online supermarket Ocado Retail, a joint venture of Ocado Group (OCDO.L) and Marks & Spencer Group (MKS.L), have all warned about their profits this month.

Mining stocks (.FTNMX551020) declined 2.8%, leading losses on the commodity-heavy FTSE 100.

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