UK retail sales rose 1% in August compared with July, after a 0.7% increase in July, according to data released this Friday (20) by the country’s statistics body, the ONS. In August, sales volumes hit their highest level since July 2022.
The increase was more than analysts polled by FactSet had forecast a 0.4% rise.
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On a year-on-year basis, British retail sales rose 2.5% in August. In this case, FactSet’s estimate is a 1.3% increase.
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More broadly, sales volume increased by 1.2% in the three months to August 2024 compared to the three months to May 2024.
According to the ONS, some supermarkets and clothing retailers are reporting an increase in sales due to warmer weather and end-of-season sales.
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