Jump For Retail Sales In July

Retail sales in the UK reported a surprise jump in July, rising by 0.8% month-on-month, according to figures from the Office of National Statistics.

 The news surprised the sector, which
widely expected sales to be down for the month, given the poor
trading conditions reported across the market.
However, the ONS
revised downwards the already sharp drop reported in June to 4.3%,
creating a confused picture of consumer demand. For the three months
to July, sales were up 0.7% month-on-month, and grew by 2.1%
year-on-year. The strongest rise in sales came from the
�predominantly non-food� category, where sales were up 1.2% for
the three months, while food sales edged up just 0.1%.