July retail sales receive boost
The Office for National Statistics has reported an improvement in retail figures in July 2009.
According to latest figures from the Office for National Statistics (ONS), retail sales in the UK rose by 0.4% in July.
The monthly rise is larger than expected, especially because of June’s strong retail figures, and July’s increase takes the annual gain to 3.3%.
The annual figure from July is now the highest it has been since May 2008.
Clothing and footwear sales were up 10.3% from the same month a year earlier. Furniture and electrical goods also performed well in July with an increase of 4.5%.
June’s strong retail figures have been revised with the monthly increase in fact tallying 1.3%, rather than the previously reported 1.2%.
Earlier this month the British Retail Consortium (BRC) also reported an improvement in the UK retail industry, partly attributed to the wet summer weather. Like-for-like sales rose by 1.8% in July compared with one year earlier.
The latest results go some way towards brightening the formerly bleak picture for the UK economy. However, despite the increase, the improved retail sales do not give an indication of the recession easing up in the coming months.
Stephen Robertson, Director General of the BRC, said: “There is a sense among some customers that the beginning of the end of the recession is here but rising unemployment and job-loss fears will continue to hold back the widespread return of consumer confidence for some time yet.”
