UK retail sales surge by 1% in June

Date:

Trending

British retail sales rebounded unexpectedly in June, according to official data that may raise hope the economy will sidestep a downturn in the second quarter.

- Advertisement -

Monthly retail sales volumes jumped 1.0%, the Office for National Statistics said, well above all forecasts in a Reuters poll of economists that had pointed to a 0.3% drop.

Compared with June 2018, sales were up by 3.8%, again stronger than all forecasts.

- Advertisement -

Many economists think Britain’s economy is in danger of shrinking in the second quarter, a hangover from the stockpiling boom that took place ahead of the original Brexit deadline in March.

But the unexpected strength of retail sales in June could help to reduce that risk. Still, retail sales over the three months to the end of June grew by just 0.7%, the weakest reading since the three months to February.

“Retail as a whole saw a return to growth in June, mainly due to growth in non-food stores with increased sales in second-hand goods, including charity shops and antiques,” ONS statistician Rhian Murphy said.

The figures clashed with a British Retail Consortium survey that showed sales fell in the year to June at the fastest pace on record for that month.

Some sectors did not enjoy a rebound last month, the official data showed. Department store sales declined for a sixth consecutive month, the worst such run in records that date back to the late 1980s.

Until recently, consumers have so far largely taken Brexit in their stride, helped by modest inflation and stronger growth in wages.

That has helped the world’s fifth-biggest economy at a time when many companies have been cutting back on investment because of uncertainty about Brexit.

Stable inflation, a steady rise in wages and the lowest unemployment since 1975 have continued to boost household incomes, although after inflation wages are still below their peak before the financial crisis.

But there have been other signs consumers are turning more cautious as Britain’s political crisis drags on.

The two contenders to become prime minister next week have both said they are willing to take Britain out of the European Union without a transition deal, if necessary.

THE SNAPSHOTS

Sign up to get quick snaps of everyday happening, directly in your inbox.

We don’t spam! Read our privacy policy for more info.

- Advertisement -

Support our independent journalism PayPal (Outside India) For PayU (For Indian Readers).

Krishna Mali
Krishna Mali
Founder & Group Editor of TechGraph.

More Latest Stories

More Articles

Typhoon Wutip Hits Hainan China

Typhoon Wutip, the first named storm of the 2025 Pacific typhoon season, lashed China’s Hainan province on Friday with strong winds and heavy rainfall,...

Meta’s Chief Legal Officer Offloads $363,219 in Shares Under Pre-Arranged Plan

Meta Platforms Inc.’s Chief Legal Officer Jennifer Newstead sold 519 shares of the company’s Class A common stock on June 10, according to a Form 4 filing with the U.S. Securities and Exchange Commission. The shares were sold at a price of $701 each, generating...

Alphabet Shareholders Reject All 13 Proposals, Re-elect Entire Board

Alphabet Inc. (NASDAQ: GOOGL) shareholders rejected all 13 investor proposals at the company’s annual...

BGC Director Arthur Mbanefo Sells Shares Worth Over $295k Amid Company Buyback

Arthur U. Mbanefo, a board member at BGC Group Inc., sold a total of...

London-Ahmedabad Plane Crash: Air India to Operate Relief Flights

Air India is operating two relief flights for the next of kin of passengers...

Air India passenger plane flying from Ahmedabad to London crashed

A London-bound Air India passenger plane carrying 242 people, including 2 pilots and 10...

HCLTech to Power The Standard’s Digital Shift with AI-Led IT Solutions

HCLTech, a leading global technology company, announced an expansion of its partnership with Standard...

Nvidia Director Tench Coxe to Sell Shares Worth $142.7 Million

Nvidia Corporation board member Tench Coxe has filed a notice with the U.S. Securities...

Sri Lanka To Raise Electricity Tariff By 15 Percent

Sri Lanka will increase electricity tariffs by 15% starting June 12, the Public Utilities Commission of Sri Lanka (PUCSL) announced on Tuesday. The hike...

From Diagnostics to AI: The New Age of Car Repair Technology

The automotive industry is undergoing a significant transformation, driven by technological advancements that are...

India, Mongolia Holds Joint Military Drills in Ulaanbaatar

The 17th edition of the joint military exercise Nomadic Elephant 2025 between India and...

Fintevex Overview: What Traders Need to Know in 2025

In 2025, the trading world is more competitive than ever. With hundreds of platforms...

Narcotics Bureau Seized ₹9.2 Crore Properties in Big Drug Lab Raid

The Narcotics Control Bureau (NCB) has attached properties worth ₹9.2 crore belonging to a...

Kashmir’s First Tribal Museum Set Up by Young Tribal Girl in Bandipora

In a groundbreaking cultural initiative, Shahida Khanam, a young tribal girl from Aragam village in Bandipora district, has established Kashmir’s first-ever Tribal Museum by...

DRDO Transfers Defence Technologies to 10 Indian Firms

The Defence Research and Development Organisation's (DRDO) Vehicle Research and Development Establishment (VRDE) in Ahmednagar, Maharashtra, has transferred technologies of nine defence systems to 10 Indian industries. The systems include the Chemical, Biological, Radiological, Nuclear (CBRN) Recce Vehicle, Mounted Gun System, Anti-Terrorist Vehicle, and Vajra-Riot...

Mexico Reports 40% Drop in Fentanyl Trafficking to the US

Mexico has announced a sharp decline in fentanyl trafficking to the United States, reporting...

CCPA Issues Advisory to E-Commerce Platforms To Avoid Dark Patterns

The Central Consumer Protection Authority (CCPA) has issued advisory to all e-commerce platforms to...

Iran Calls New U.S. Travel Ban Policy “Racist”

Tehran: Iran on Saturday issued a sharp condemnation of the new U.S. travel ban,...

Taiwan Open 2025: India Bags 6 Golds on Day 1

Indian athletes kicked off the Taiwan Open 2025 with a stellar performance, bagging six...

UK Foreign Secretary David Lammy Meets PM Modi, Strengthens Bilateral Ties

UK Foreign Secretary David Lammy called on Indian Prime Minister Narendra Modi on Saturday,...

PM Narendra Modi to Attend G7 Summit in Canada Later This Month

Indian Prime Minister Narendra Modi will attend the G7 Summit later this month at...

From Legacy Systems to Intelligent Automation: Why Businesses are Adopting AI

Many of us have grown accustomed to legacy systems in the business world, and...

Top Strategies to Win at Blackjack: Expert Tips for Players

Blackjack isn’t just a game—it’s a mathematical battleground. While many casino games rely purely...

What to Consider When Choosing a Car Battery Repair Shop

When faced with car battery issues, finding the right repair shop becomes necessary. Given...

Fintevex Overview: What Traders Need to Know in 2025

In 2025, the trading world is more competitive than ever. With hundreds of platforms...

President Trump: Elon Musk Has ‘Lost His Mind’

A dramatic rift between U.S. President Donald Trump and billionaire entrepreneur Elon Musk is...

Why India’s Workforce Needs Business Leadership, Not Just Technical Skills

Every year, millions of students in India graduate with technical degrees, becoming engineers, coders,...

MSys Technologies Rebrands as Aziro to Accelerate AI-Led Enterprise Solutions

MSys Technologies, a global leader in infrastructure engineering and digital transformation, has rebranded as...

Dr. S Jaishankar: FTA With the UK a Milestone in Bilateral Ties

British Foreign Secretary David Lammy met External Affairs Minister Dr. S. Jaishankar in New...

Narcotics Bureau Seized ₹9.2 Crore Properties in Big Drug Lab Raid

The Narcotics Control Bureau (NCB) has attached properties worth ₹9.2 crore belonging to a...

Top Strategies to Win at Blackjack: Expert Tips for Players

Blackjack isn’t just a game—it’s a mathematical battleground. While many casino games rely purely...

Navigating the Inheritance Process After the Passing of a Loved One

The death of a loved one often leaves families grappling with complex emotional and...

What to Consider When Choosing a Car Battery Repair Shop

When faced with car battery issues, finding the right repair shop becomes necessary. Given...