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UK Retail Sales Rise by 0.7% in July

Published 08/16/2018, 04:30 AM
© Reuters.  UK retail sales rise 0.7% in July vs. forecast for 0.2% increase

Investing.com - UK retail sales rose 0.7% in July, the Office for National Statistics said on Thursday.

This was compared to a 0.5% decrease in the previous month.

Economists had forecast a gain of 0.2%.

Year-on-year, retail sales rose by 3.5% last month.

Analysts had penciled in a 3.0% gain.

Sales in June advanced 2.9% from the year before.

Core retail sales, which exclude automobile sales and fuel, increased by 0.9% in July, after falling 0.6% a month earlier.

Economists had expected a 0.1% gain.

Year-on-year, core retail sales rose 3.7% in July, compared to expectations for a 2.8% increase.

A month earlier, they registered a 2.9% advance which was revised down from an initial 3.0% rise.

“Many consumers stayed away from some high street stores in July, but online sales were very strong, supported by several retailers launching promotions,” ONS statistician Rhian Murphy said.

“Food sales remained robust as people continued to enjoy the World Cup and the sunshine,” she added.

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