UK retail sales up unexpectedly

UK retail sales rose unexpectedly in July, but consumer confidence fell to its lowest point as the UK heads into recession, data showed on Friday.

Sales rose 0.3 percent last month after a slight decline in June 2022, according to the Kingdom’s National Statistics Office, after analysts agreed to another decline.

Bureau of Economic Statistics director Darren Morgan said that online shopping “has grown with a range of offers and promotions.”

He added: “However, fuel sales have declined and some evidence indicates that the hot weather has led to lower passenger numbers.”

Morgan explained that another decline in sales of clothing and home goods indicates that “consumers are saving due to higher prices and concerns about affordability and cost of living.”

Separate data on Friday showed UK consumer confidence at an all-time low.

Source: AFP.

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