United Kingdom: Retail sales bounce back in July
Retail sales grew 0.5% in month-on-month seasonally adjusted terms in July, which contrasted June’s 0.9% decrease and was in line with market expectations. In particular, department stores and sports equipment stores sales rose following summer discounts and sporting events.
On an annual basis, retail sales rose 1.3% in July (June: -0.2% yoy). Moreover, the trend improved, with the annual average variation of retail sales coming in at minus 0.8%, up from June’s minus 1.2%.