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- UK retail sales rose more than forecast in August
UK retail sales rose more than forecast in August
According to the report from Office for National Statistics, in August 2020, retail sales volumes increased by 0.8% when compared with July; this is the fourth consecutive month of growth, resulting in an increase of 4.0% when compared with February’s pre-pandemic level. Economists had expected a 0.7% increase in August.
In August, retail sales values increased by 0.7% when compared with July and 2.5% when compared with February.
In August, there was a mixed picture within the different store types as non-store retailing volumes were 38.9% above February, while clothing stores were still 15.9% below February’s pre-pandemic levels.
Spending for home improvements continued to rise in August as sales volumes within household goods stores increased by 9.9% when compared with February.
Online retail sales fell by 2.5% in August when compared with July, but the strong growth experienced over the pandemic has meant that sales were still 46.8% higher than February’s pre-pandemic levels.
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