UK retail sales grow faster than expected in June

0.7% jump

Valeria Martinez
clock • 1 min read

Retail sales in the UK jumped faster than expected in June despite persistently high inflation, as good weather and promotions boosted sales.

The Office for National Statistics said on Friday (21 July) that retail sales had risen by 0.7% last month, a larger increase than the 0.2% forecast by economists polled by Reuters, following a rise of 0.1% in May.  Sales decreased by 1% from a year earlier, exceeding expectations of a 1.5% dip, while retail sales volumes rose by 0.4% in the three months to the end of June, compared with the previous quarter. Inflation comes in under expectations at 7.9% but UK remains 'drastic outlier' Non-food stores sales volumes rose by 1%, following a fall of 0.5% in May as department stores a...

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
member?

Login

More on UK

Invesco discontinues standalone UK equity team as it merges with European cohort
UK

Invesco discontinues standalone UK equity team as it merges with European cohort

Teams already work closely

Eve Maddock-Jones
clock 12 June 2024 • 1 min read
Greens pledge to demand non-bank financial institutions to divest from fossil fuels by 2030
UK

Greens pledge to demand non-bank financial institutions to divest from fossil fuels by 2030

Additional mandate for the BoE

Valeria Martinez
clock 12 June 2024 • 2 min read
UK economic growth flatlines in April
UK

UK economic growth flatlines in April

Poor weather dampened data

Eve Maddock-Jones
clock 12 June 2024 • 2 min read
Trustpilot