Retail sales show steep decline in July

Dropped by 2.5%

Kathleen Gallagher
clock • 1 min read

There was a steep fall in British retail sales last month, setting back their post-lockdown recovery, according to data from the Office for National Statistics (ONS).

Retail sales volumes dropped by 2.5% in July from June, the ONS said. Emma Mogford, fund manager of the Premier Miton Monthly Income Fund, said the scale of the decline compared to the previous month is "surprising". "It adds further evidence of consumer caution in the face of the delta variant, despite restrictions being removed. High street retailers face a challenging outlook if consumer spending remains muted while government support is phased out."  Quilter Investors' Bradshaw: The UK market is down but not out Non-food stores reported a fall of 4.4% in sales volumes in the...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on Markets