Retail Sales Climb 1.1% in July
Sector: Retail & Leisure
19th August 2010
Retail sales in July rose much faster than expected, with almost all non-food sectors showing strong growth. Sales volumes jumped 1.1% compared with June, the Office for National Statistics (ONS) said. Analysts had forecast a rise of just 0.4%. That marked the highest month-on-month increase since February.
A broad mix of retailers saw a rise in volumes, including sports equipment and jewellery shops, which offset lower household goods sales. Sales in food stores fell 1%, while department store sales were flat. Overall sales volumes were 1.3% higher on a year-on-year basis. "It doesn't look for now like the slowdown emerging in the rest of the economy has spread to the High Street yet," said Vicky Redwod from Capital Economics.
Source: BBC News
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