The latest UK retail sales figures have surprised City analysts, growing by 1% in August instead of the forecasted 0.2%. The data also suggests consumers are still spending strongly despite price increases.
UK retail growth slowed as expected in July after a strong second quarter, as shoppers cut back on purchases of most goods other than food, adding to worries about a fall in consumer demand caused by higher inflation.
Sunny weather and markdowns helped British retail sales rise more strongly than expected in June and shake off a gloomier start to the year, with fashion making up for shortfalls in other sectors, official figures sho...
UK clothing sales hit a new low online last month with just 7.6% growth as Britons kept their purses and wallets closed because of higher prices, dull weather, Brexit blues and uncertainty due to the general election.
British retail sales fell more sharply than expected in May, data showed, the latest sign of the growing hit to the economy from rising inflation since the Brexit vote. But there were signs that fashion sales held up.
UK shoppers ignored inflation woes caused by the Brexit vote during April and unexpectedly stepped up spending at the fastest rate in years, helped by fine weather that meant good news for fashion, official data showed.
Higher clothing prices were one factor that caused UK inflation to head up again last month, the Office for National Statistics (ONS) said Tuesday. It rose to 2.7%, higher than expected, after being up 2.3% in March.