United Kingdom: Retail sales growth speeds up in July
Latest reading: Retail sales increased 0.6% month-on-month in seasonally adjusted terms in July (June: +0.3% mom), beating market expectations. However, June’s reading was revised down significantly from the earlier 0.9% estimate. In July, sales were boosted by non-store retailers and clothing outlets, lifted by new product launches, warm weather, and spending tied to the UEFA Women’s EURO 2025 tournament.
On an annual basis, retail sales rose at a quicker rate of 1.0% in July (June: +0.9% yoy). Meanwhile, annual average growth of retail sales was stable at June’s 1.0% in July.