Shopping cart
Your cart empty!
Women's Euros helps UK net surprise boost to retail sales
Retail sales rose a surprising amount in July, as good weather and the Women's Euros led people to part with their cash, official figures show.
The amount of spending rose 0.6% in July, according to figures from the Office for National Statistics (ONS), far above the 0.2% rise anticipated by economists polled by Reuters. In particular, clothing and footwear stores, as well as online shopping, experienced strong growth.
Money blog: UK airport ranked worst for fourth year in a row When looked at on a three-month basis, the numbers are weaker, with a 0.6% fall in sales up to July due in part to downward revisions in June. Spending has declined since March, when supermarkets, sports shops, and household goods saw strong sales at the beginning of the year as warm and sunny weather pushed summer purchases earlier.
Though compared to a year ago, sales are up 1.1%. Retail sales figures are significant as they measure household consumption, the largest expenditure in the UK economy.
Growing retail sales can mean economic growth, which the government has repeatedly said is its top priority. A problem with the figures These figures were originally due to be published in August but were delayed by two weeks so the ONS could carry out "quality assurance" checks.
Following the checks, the statistics body found a "problem.
Amir Nisi
Creative and experienced content writer with 6+ years of experience lazy to create unique content strategy for News5 to turn website visitors into customers.
Related to this topic:
AI and Marketing: Unlocking Customer Insights
Feb 22, 2024
