Retail sales hotted-up in July
RETAIL sales for July have added further credence to hopes that the economy is moving in the right direction.
The Office for National Statistics said sales in July were up 1.1% on June, boosted by the good weather – supermarkets saw a monthly rise in sales of 2.5% with BBQ food, alcohol and clothing all seeing growth.
The ONS data means sales are up 3% on last year – and indicates that although household budgets are under pressure, consumer confidence is rising.
The estimated weekly spend across all retailing averaged £7bn, up from £6.8bn in June 2013 and £6.7bn in July 2012.
On Wednesday, official unemployment figures showed that the number of those out of work is continuing to fall, although by just 4,000.
Brian Green, KPMG’s North West head of retail, said: “The figures confirm that sunny weather, the Royal baby and sporting achievements resulted in a welcome hotting up at the tills as retailers benefited from the consumer feel good factor and demand for fun-in-the-sun goods.
“There’s no time to bask in this sunny position though, as the sector will now be focused on how well back to school ranges and autumn collections perform while preparing for the ever-critical Christmas period.”
Neil McTiffin partner and retail expert at PwC in Manchester, added:
“Sunshine, confident statements from the new Governor of the Bank of England plus a slight lift in the housing market, have done wonders for consumer confidence.
“The apparel and general retail merchandise sector seem to have benefitted, with encouragingly strong sales for the majority across both physical stores and online, the latter still leading.”
