Aug 17, 2018

Discounts and online help retail sales bounce back in July

The Office for National Statistics figures also showed that retail sales rose by 3.5% in the year to July. "ONS statistician Rhian Murphy said:"Many consumers stayed away from some High Street stores in July, but online sales were very strong, supported by several retailers launching promotions. Clothing sales recorded their strongest year-on-year growth since December, also helped by sales promotions, the ONS added. Online spending via department store websites also reached a record proportion of their total sales, at 18.2%. Andrew Wishart, UK economist at Capital Economics, said that the robust retail sales for July suggested "Some recovery in consumer spending is in the pipeline". "Nonetheless, the retail sales data provides reason to think that consumer spending growth could post a slightly improved performance in the third quarter."

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