UK Retailers Performance Report August 2020
UK Retail Sales In August Exceed Retail Sales In August 2019
UK Retailers Performance Report August 2020
UK Office for National Statistics ONS reports UK retail sales were 2.8 percent higher in August year on year. UK retail sales have increased for four months in a row and were already higher then last year by July. In total UK retail sales are now 4 percent higher than last year despite or perhaps because of the coronavirus pandemic as British shoppers switch from holiday spending to household goods and DIY.
UK retailers have benefited from fewer British people holidaying abroad this summer and a shift to spending on household goods rather than activities outside the home.
Although UK High Street fashion sales increased from July to August 2020 they were still down on comparison with last years sales figures.
The Bank of England said on Thursday that Britain’s economy was on course to recover faster than it had forecast in August, but output in the July-September quarter is still expected to be 7% lower than in 2019’s final quarter.