U.K. retail sales unexpectedly surged in the month after Britain voted to quit the European Union, as hot weather bolstered sales of clothing and footwear and a drop in the pound encouraged tourists to snap up watches and jewelry.
The volume of goods sold in stores and online jumped 1.4 percent, after dropping 0.9 percent in June, figures from the Office for National Statistics showed on Thursday, exceeding a prediction of 0.1 percent in a Bloomberg survey. Sales excluding auto fuel advanced 1.5 percent.
The report suggests the economy started the third quarter on a strong footing, even after the Brexit referendum knocked confidence and prompted the Bank of England to revise down its growth forecasts. The ONS collected the data between July 3 and July 30, making this the first full report since the vote.
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