UK Retail Spending Rebounds in July by Most in Six Months – BRC

British retail spending bounced back in July as sales promotions and good weather outweighed any immediate concern about the consequences of Britain’s decision to leave the European Union, a survey showed on Tuesday.

Retail spending in July was 1.9 percent higher than a year earlier, the biggest rise in six months and up sharply from 0.2 percent growth in June, when bad weather added to uncertainty around June 23’s referendum, the British Retail Consortium said.

On a like-for-like basis – a measure which strips out changes in floorspace and corresponds more closely with retailers’ results – sales were up 1.1 percent on the year in July, compared with a 0.5 percent dip in June.

Reuters

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Craig Erlam

Craig Erlam

Senior Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam
Craig Erlam

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