- Retail sales volumes jumped 0.6% in July
- But sales over the three months to July fell 0.6%
- Good weather, new product lines and the Women’s Euros were credited with boosting sales, especially among clothing retailers.
Danni Hewson, AJ Bell head of financial analysis, comments on the delayed ONS retail sales figures:
“It’s often said that Brits are obsessed with the weather and it’s understandable when many of our summers end up being a total washout.
“But this year we weren’t disappointed and instead of being huddled inside or dodging downpours we were treated to the hottest summer on record.
“And with long spells of sunshine and rising temperatures, many of us were tempted to splash out on new summer lines, updating wardrobes with flowing dresses or smart shorts that would be acceptable as office attire.
“Sometimes unbearably hot nights pushed many of us to hit electrical retailers like Currys to stock up on fans or splurge on an AC system.
“And a summer of sport also impacted our buying habits, with the Women’s Euros credited with boosting sales in some stores.
“But it wasn’t all positive news for the sector. Across the three months to July the amount of stuff we were buying fell, with food, household items and sporting goods sales all declining.
“An early spring meant many households updated gardens early, filling them with new furniture, BBQs and sports gear that shouldn’t need replacing for months if not years.
“And consumer confidence is still fragile, as the labour market shows increasing signs of strain and people worry about rising prices especially when it comes to the weekly food shop.
“But the bigger than expected jump in sales volumes in July is good news, even if the data was delayed for several weeks as the ONS once again apologised for issues with its data.
“Seasonal adjustments have been corrected it says, but these issues do little to restore confidence in official figures which are so important when it comes to understanding how the UK economy is performing.”
