A surge in sales reported by the British Retail Consortium survey for July.
- total sales +2.3% higher y/y after drops in the previous 3 months
- Like-for-like sales (which adjusts for changes in floor space and shops closed due to lockdown restrictions) +1.6% y/y after falling for four months
BRC commentary:
- "Consumer confidence remains weak, and the rise in interest rates coupled with talk of recession will do little to improve the situation,"
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Also published were Barclaycard sales results:
- Consumer spending in July was +7.7% y/y
Notable sub-measures include:
- +44% in utilities
- +30% on fuel
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