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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