Sales boost in July
This month sees sales rebound following a drop in June.
By Christina Williams
25 July 2014
Retail sales volumes grew solidly in the three months leading up to July, following disappointing footfall and sales throughout the month of June. The findings – revealed by the latest Distributive Trade Survey carried out by the Confederation of British Industry – also found that retailers were expecting to see further growth over the coming months.
Specifically, almost half of retailers questioned in the survey – 46 per cent – reported that sales had risen in the three months leading up to July. Fifty one per cent, meanwhile, said that they were expecting sales volumes to rise again next month.
“As the temperature began to rise, it seems so did sales volumes,” says Barry Williams, chair of the CBI Distributive Trades Survey Panel. “Almost all sectors saw growth, with grocers and clothing stores telling us they performed particularly well as people bought barbeque supplies and summer outfits.”
The news comes amid wider reports that UK economy is growing at a faster rate than that of any other developed country, with some reports citing that it is back at “pre-crisis” level.
Figures from the Office for National Statistics indicate that the UK economy grew by 0.8 per cent during the second quarter of 2014, something that was described as a “major milestone” by Chancellor George Osborne.
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