Daily Management Review

Retail Sales in the UK Showed an Increase


08/20/2015


Retail sales in the UK in July rose by 0.1% compared with the previous month, according to the Office for National Statistics (ONS) of the country.



bloomberg
bloomberg
Analysts, surveyed by Bloomberg, had expected a more significant growth - by 0.4%.

Increase in retail sales in annual terms amounted to 4.2% against the expected 4.4% rise.

According to revised data, in June, retail sales in the UK fell 0.1% from the previous month and increased by 4.2% compared to June 2014. Previously, reduction of the first indicator by 0.2% and increase in the second by 4% has been announced.

Last month, retail sales excluding automotive fuel rose by 0.4% for the month and for the year increased by 4.3%. The dynamics of both indicators coincided with the consensus forecast.

Low price increases and accelerating wage growth along with the boom in the real estate market are supporting consumer spending, economists say. The Bank of England is expected to accelerate the pace of consumer price growth to the end of the year.

Sale of fuel in July fell by 2.6% compared to the previous month, food products - by 0.2%, clothing and footwear - by 1.5%. At the same time, sales of household goods jumped by 3.6% - the largest increase since October.

Retail sales deflator, which reflects the change in prices in British shops, last month decreased by 3% yoy, in line with the June figure.

source: bloomberg.com






Science & Technology

Designing Of Cars Being Done With Hologram Goggles At Ford

The Already Surging Cyber Attacks Are Set To Rise Even Further, Says A Study

Chinese to equip smartphones with OLED displays

Based On One Photo, Research Shows A.I. Can Detect The Sexual Orientation Of A Person

Cyber Crime Risks Are Substantial, Systemic, Says SEC Chief

Tech Titans, Amazon & Microsoft, Partner To Integrate Their Respective A.I. ‘Voice Assistants’

SpaceX Selects Technical University Team’s Hyperloop As The Winner Of The ‘Fast Pod’

Market of autonomous cars will accelerate by 2025

AHA Customers In Iceland Enjoy The First ‘Drone Delivery Service’ In The World

Wal-Mart to unite with Google's voice platform

World Politics

World & Politics

Strong 3.4 magnitude earthquake detected coming from North Korea’s nuclear test site

Even As Kim And Trump Trade Threats, South Korea Approves $8 Million Aid For The North

From October 1 Uber is banned in London

Concerns about the far-right party are growing in Germany

Fight for clean air: 7 countries against internal combustion engines

Japan, India Agree To Deepen Defence With China In Mind

Myanmar's Rohingya Crisis May Be Taken Advantage Of By Terror Groups

The French people voted for Labour Reforms, there is no turning back: French Prime Minister Edouard Philippe