UK Retail Sales Growth Accelerates: BRC
UK retail sales growth accelerated in August thanks to the sunny weather and the interest rate reduction, data from the British Retail Consortium showed Tuesday.
Retail sales increased 3.1 percent on a yearly basis in August, following a growth of 1.0 percent in the previous year.
Food sales advanced 4.7 percent after a growth of 3.9 percent last year. At the same time, non-food sales grew 1.8 percent, reversing last year’s 1.4 percent decline.
Computing performed well as parents readied children for the new academic year, and gaming continued to show strong sales, BRC Chief Executive Helen Dickinson said.
“Despite a better summer, retailers approach the ‘golden quarter’ with caution,” said Dickinson.
“With the later-than-expected Budget falling just days before Black Friday, many are uneasy about how consumer confidence and spending could be impacted by tax rise speculation in the run-up to Christmas,” she added.
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