UK retail sales recovered in June as the start of the Euro 2020 football championship boosted grocery sales, according to the National Statistics Office on Friday.
Retail sales increased by 0.5 percent in June compared to the previous month, in contrast, they decreased by 1.3 percent in May. Growth of 0.4 percent was forecast.
Sales volume increased by 9.5 percent in June compared to the previous yearcoronavirus pandemic February 2020 level.
The sales of grocery stores increased by 4.2 per cent in June, while the sales of non-food products decreased by 1.7 per cent in June. Sales of automotive fuels rose 2.3 percent as people increased their travel volumes.
Excluding automotive fuel, retail sales grew 0.3 percent, in contrast to the 2 percent decline in May. However, the growth rate was weaker than the economists’ forecast of 0.6 percent.
In the year, retail sales growth slowed to 9.7 percent from 24.6 percent in the same period last year. Economists had expected annual growth of 9.6 percent.
Similarly, sales excluding automotive fuel grew 7.4 percent, but were slower than the 21.7 percent seen in May and economists forecast 8.2 percent.
In the three months to June, total retail sales increased by 12.2 percent compared to the previous three months.
At the beginning of the day, survey data released by the market research group GfK showed that UK consumer sentiment strengthened more than expected in July to reach pre-closing levels in March 2020.
The consumer sentiment index rose in July -7 from the level of the previous month -9. The expected reading was -8.
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