ZCZC
BCN-24
BRITAIN-ECONOMY-RETAIL-INDICATOR
UK retail sales shine on heatwave, World Cup
LONDON, Aug 16, 2018 (BSS/AFP) – British retail sales rebounded in July,
official data showed Thursday, as the food sector won a major boost from
sunny weather and the World Cup.
Sales rose 0.7 percent last month, rebounding from a 0.5-percent drop in
June, the Office for National Statistics said in a statement.
The tills kept ringing despite a string of high-street retailer collapses,
including budget chain Poundworld and electrical specialist Maplin — and
more recently department store House of Fraser.
ONS senior statistician Rhian Murphy said that retail sales were also
lifted by online price reductions.
“Many consumers stayed away from some high street stores in July, but
online sales were very strong, supported by several retailers launching
promotions,” noted Murphy.
“Food sales remained robust as people continued to enjoy the World Cup and
the sunshine.”
Market expectations had been for a much more modest 0.2-percent increase in
July, according to economists polled by Bloomberg.
Thursday’s bright data followed news last week that Britain’s economy
picked up speed in the second quarter despite mounting concerns over Brexit.
Gross domestic product grew 0.4 percent in the three months to June,
stimulated partly by warm weather and the England team’s strong showing at
the World Cup.
Manager Gareth Southgate’s England team progressed to the semi-finals at
the football tournament that was held in Russia.
BSS/AFP/SR/1935 HRS