British retail sales unexpectedly rise by 0.5% in August
Online and department store spending lifted sales, while fuel sales fell 1.3%, the Office for National Statistics said.
- British retail sales unexpectedly rose 0.5% in August, defying economist forecasts of a 0.2% decline, official Office for National Statistics figures showed on Friday.
- Online channels and department store spending drove the monthly increase, though fuel sales fell 1.3% compared with July as the Iran war pushed prices higher.
- Overall sales volumes were 2.4% higher than August last year, though major retailers including Next and Primark reported subdued updates, suggesting broader economic concerns.
- Clothing retailer Next cut its forecast for sales growth in coming months, while the John Lewis Partnership reported wider first-half losses, reflecting these mixed corporate results.
- Prime Minister Andy Burnham and finance minister John Healey face limited options for giveaways in the October 28 budget, as the Bank of England maintains cautious interest rate policies.
14 Articles
14 Articles
British retail sales defy forecasts with surprise August rise
UK retail sales unexpectedly rose in August, defying forecasts of a decline. Despite renewed pressure from higher fuel prices, hot weather drove a strong rebound in both online shopping and department store sales. Economists had expected sales to fall 0.2 per cent but sales volumes rose 0.5 per cent during the month, reversing a 0.5 [...]
perspectivemedia.com
Department stores and online shopping drive rebound in UK retail sales
It was a stronger performance than widely expected, with economist having predicted a decline of 0.2% for August. UK retail sales returned to growth last month amid a boost from online shopping and department stores, according to official figures. The Office for National Statistics (ONS) said retail sales volumes increased by 0.5% in August, compared...
(Teleborsa) - Retail sales in the United Kingdom increased more than expected in August. According to the Office for National Statistics, retail sales increased by 0.5% on a monthly basis...
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