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UK retail sales fall in July as promotions ease
Retail sales volumes dropped 0.5% in July after a 1.0% gain in June, while drinks and alcohol sales held up amid hot weather and the World Cup.
UK retail sales fell in July despite the World Cup drawing shoppers and hot weather boosting alcohol purchases, according to UK Office for National Statistics data cited in the Guardian Business live blog.
The total volume of goods sold in stores and online declined 0.5% in July compared with a 1% rise in June, with non-food sales weakening after retailers had pulled promotions forward into June because of the heat.
The ONS said there was evidence of reduced promotions in July among household goods and clothing retailers, while shops selling alcoholic drinks and beverages performed well, attributing strength to promotions, hot weather, and the World Cup.
The figures were released after GfK’s Consumer Confidence Index improved to minus 14 in July from minus 17, though the outlet noted ongoing challenges for consumers amid inflation and Middle East uncertainty, and the blog also pointed to oil prices moving at one-month highs.