UK Retail Sales Recover On Warm Weather
20 Luglio 2017 - 9:50AM
RTTF2
UK retail sales recovered at a faster-than-expected pace in June
as warm weather boosted clothing demand.
Retail sales grew 0.6 percent month-on-month in June, reversing
a 1.1 percent fall in May, data from the Office for National
Statistics showed Thursday. Sales were forecast to gain 0.4
percent.
Excluding auto fuel, retail sales climbed climbed 0.9 percent,
in contrast to a 1.5 percent decrease in the previous month.
Economists had forecast a 0.5 percent increase.
June's retail sales figures suggest that recent talk of a marked
consumer slowdown has been overdone and provides another reason to
think that next week's GDP figures should reveal a re-acceleration
in overall growth in the second quarter, Capital Economics'
economist Paul Hollingsworth said.
The ONS is slated to release preliminary GDP data for the second
quarter on July 26.
A particularly warm June seems to have prompted strong sales in
clothing, which has compensated for a decline in food and fuel
sales this month, ONS statistician Kate Davies said.
Food store sales fell 0.5 percent, while non-food store sales
advanced 1.8 percent in June.
On a yearly basis, retail sales growth accelerated to 2.9
percent from 0.9 percent. This was also faster than the expected
2.5 percent.
Likewise, sales volume excluding auto fuel improved to 3 percent
from 0.6 percent. Sales were forecast to grow 2.5 percent.
In the three months to June, retail sales volume grew 1.5
percent with increases seen across all store types.
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