Retail sales in UK surge 1 percent last month
Date
9/22/2024 9:34:04 AM
(MENAFN) In August, the UK experienced a 1 percent increase in retail sales volume on a month-to-month basis, following a more modest rise of 0.7 percent in July. According to the Office for National Statistics (ONS), this uptick was largely driven by supermarkets and clothing retailers, which benefited from the warmer weather and end-of-season sales promotions. These factors contributed to a boost in consumer spending, highlighting a seasonal trend that typically enhances retail activity during this time of year.
Looking at a broader timeframe, retail sales volumes showed a 1.2 percent increase over the three months leading up to August 2024, compared to the previous three-month period ending in May 2024. This suggests a steady recovery in consumer demand, although it's important to note that despite these positive figures, retail sales volumes remain 0.4 percent below their pre-pandemic levels recorded in February 2020. This indicates ongoing challenges for the retail sector in fully returning to its previous performance benchmarks.
In particular, British food stores reported a significant rise in sales volumes, climbing by 1.8 percent in August 2024, building on a more modest increase of 0.3 percent observed in July. This growth reflects a continued consumer preference for grocery shopping as households adapt to changing economic conditions and lifestyle habits.
Overall, these figures paint a picture of cautious optimism within the UK retail landscape, as various segments show resilience amid fluctuating economic factors. The combination of favorable weather and strategic sales efforts has spurred consumer activity, but the sector still faces the challenge of regaining its footing relative to the pre-pandemic market environment.
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