Retail sales weaken in July as demand for clothing falls
July’s decline was a marginally larger fall than expected, as economists had predicted a 0.4% decline for the month.
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Summary
July’s decline was a marginally larger fall than expected, as economists had predicted a 0.4% decline for the month. The ONS said retail sales volumes increased by 1.1% over the three months to July, compared with the previous three months. Sales from clothing and footwear retailers slid by 2.7% for the month, representing the sharpest drop since May last year.
Furthermore, Experts said this was linked to many retailers bringing promotions and discount activity forward into June, helping drive sales that month but resulting in a drop off in July. ONS chief economist Grant Fitzner said: “Retail sales increased in the latest three months, with all main sectors, apart from motor fuel, seeing growth. “Some retailers told us that hot weather and promotions helped sales of outdoor products and items such as fans, with clothing and online sports merchandise also doing well.”. Retail sales slipped back in July as clothing sales fell at the fastest rate for more than a year, according to official figures.
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Factual coreconfirmed by several independent voices
July’s decline was a marginally larger fall than expected, as economists had predicted a 0.4% decline for the month.
reliability low1/2 sourcesThe ONS said retail sales volumes increased by 1.1% over the three months to July, compared with the previous three months.
reliability low1/2 sourcesSales from clothing and footwear retailers slid by 2.7% for the month, representing the sharpest drop since May last year.
reliability low1/2 sourcesExperts said this was linked to many retailers bringing promotions and discount activity forward into June, helping drive sales that month but resulting in a drop off in July.
reliability low1/2 sourcesONS chief economist Grant Fitzner said: “Retail sales increased in the latest three months, with all main sectors, apart from motor fuel, seeing growth. “Some retailers told us that hot weather and promotions helped sales of outdoor products and items such as fans, with clothing and online sports merchandise also doing well.”
reliability low1/2 sourcesRetail sales slipped back in July as clothing sales fell at the fastest rate for more than a year, according to official figures.
reliability low1/2 sources
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