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Retail sales boosted by department store offers Retail sales boosted by department store offers
(2 months later)
UK retail sales rose in June after promotions and clearance offers encouraged consumers to shop in department stores.UK retail sales rose in June after promotions and clearance offers encouraged consumers to shop in department stores.
The volume of sales rose 0.2% compared with May and was up 2.2% compared with June 2012, according to the Office for National Statistics. Sales at department stores rose 3% over the month, the fastest rate since March 2012.The volume of sales rose 0.2% compared with May and was up 2.2% compared with June 2012, according to the Office for National Statistics. Sales at department stores rose 3% over the month, the fastest rate since March 2012.
Economists said a strong performance last month rounded off a good second quarter for Britain's retailers, with sales volumes up 0.9% between April and June.Economists said a strong performance last month rounded off a good second quarter for Britain's retailers, with sales volumes up 0.9% between April and June.
The data reinforced expectations that economic growth has accelerated to 0.6% over the second quarter, twice as fast as the first quarter.The data reinforced expectations that economic growth has accelerated to 0.6% over the second quarter, twice as fast as the first quarter.
It also raised hopes that further price discounting and the warm weather would boost retail sales in July.It also raised hopes that further price discounting and the warm weather would boost retail sales in July.
"Adding in signs from the surveys of improving growth in services, manufacturing and construction, the second quarter upturn is also looking encouragingly broad-based and therefore likely to carry over into the third quarter," said Chris Williamson, chief economist at Markit."Adding in signs from the surveys of improving growth in services, manufacturing and construction, the second quarter upturn is also looking encouragingly broad-based and therefore likely to carry over into the third quarter," said Chris Williamson, chief economist at Markit.
"July in particular should also be a good month for retailers, with the better weather adding to the feel-good factor and boosting sales of seasonal goods such as summer clothes and outdoor goods.""July in particular should also be a good month for retailers, with the better weather adding to the feel-good factor and boosting sales of seasonal goods such as summer clothes and outdoor goods."
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