BRC: UK retail sales up 0.6% in July

| August 9, 2011

Retail sales rose in July but conditions remain challenging as households continue to be squeezed by higher inflation and rising unemployment.

According to the British Retail Consortium (BRC)/KPMG retail sales monitor, like-for-like sales rose 0.6% last month on an annual basis.

On a total basis, meanwhile, sales were 2.5% higher, against a 2.6% increase in July last year.

Food sales growth was strong last month after a poor performance in June, while clothing and footwear demand remained high.

BRC Director General Stephen Robertson comments: “This is a modest improvement on recent months but overall conditions remain very difficult for retailers.

“When you take into consideration inflation and January’s increase in VAT, 2.5% growth effectively means people are buying fewer goods,” he added.

Analysts believe Julya��s increase will be a one-off and consumers will tighten their purse strings once the heavy discounting season is over.

Tags: ,

Comments (0)

Trackback URL | Comments RSS Feed

There are no comments yet. Why not be the first to speak your mind.

Comments are closed.