UK consumer choose pubs over retailers

British retailers reported sluggish sales growth last month as potential shoppers chose to make the most of this summer’s record hot weather and spend money at the pub instead.

The British Retail Consortium said on Tuesday that shops reported total spending was up just 1.3 percent on a year earlier, the weakest growth since November last year, apart from a big dip in April due to the timing of the Easter holiday.

By contrast, a broader measure of consumer spending by Barclaycard (BARC.L), which processes just under half of card payments in Britain, rose by 4.5 percent in August — boosted by an 11.9 percent year-on-year jump in spending at pubs.

Reuters

Commodities Weekly: Oil supported as hurricane threatens production

OANDA Trading Podcast discussing EM currency risk with MoneyFM 89.3

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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