Retail sales continue resurgence - Economy - News - Moneyfacts

News News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Retail sales continue resurgence

Retail sales continue resurgence

Category: Economy

Updated: 20/08/2009
First Published: 20/08/2009

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Retail sales in the UK rose by 0.4 per cent in July, taking the annual gain to 3.3 per cent, providing further hope that the worst of recession has passed by.

The increase is better than predicted and follows June's marked rise, which has been revised upwards from 1.2 per cent to 1.3 per cent, figures from the Office for National Statistics (ONS) show.

In the month, household good stores performed particularly well, with sales up by 4.5 per cent – the steepest monthly rise in the sector for almost three years. The ONS said rise was predominantly driven by furniture and electrical stores.

The annual improvement is the highest figure since May 2008 and was driven by sales in the clothing and footwear sector, which were up by some 10.3 per cent compared to July last year.

Food stores also enjoyed an annual increase, albeit at a smaller level, with sales increasing by two per cent.

The latest three month on three month comparison is also encouraging, as total sales rose by 1.2 per cent in the period between May and July, compared to the previous three months.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Inflation and you: what does the latest rise mean?

Today saw not only the outlining of the Government’s stance on leaving the EU, but also a rise in inflation that was larger than predicted. But what does this mean for the pound in your pocket?

Base rate remains unchanged in surprise decision

Earlier today, the Bank of England’s rate setting committee announced that it had voted decisively to keep base rate on hold at its record low of 0.5%. But what does it mean for you?

Budget 2016 – an overview

Well, George Osborne has just revealed the Budget for 2016 – his eighth so far as Chancellor – and as ever, there were some winners and losers from the whole thing. Below is a quick overview of the key points.