Retail sales increase

The Office for National Statistics has reported retail sales figures increases in the UK in July.

Retail sales volumes rose by 0.6% in July following a rise 0.3% in June but above estimates of a 0.3% rise.

Non-food store sales volumes rose by 2.5%. Food fell by 0.2% and clothing sales volumes rose by 2.5%.

Isaac Stell, Investment Manager at Wealth Club said, “Retail sales rose above estimates in July with the UEFA Women’s Euro 2025 tournament helping to bring sales home for retailers.

“Sales volumes rose across most sectors, with non-store retailers and clothing stores showing particular strength.

“The warm weather in July also helped retailers score, but the question is how long can this be sustained.

“The summer’s feel good factor is well and truly over. Looming tax rises and rampant speculation are likely to keep consumers cautious in the run up to the Budget. With the weather also starting to change for the worse, retailers will be lucky to not be caught offside in the coming months”