Headlines

U.K. Retail Sales Down Slightly in July

Economists had predicted a more drastic decrease

Published

3 years ago

July 27, 2021

U.K. Retail Sales Down Slightly in July — iStockPhoto

U.K. retail sales dipped in July after hitting their highest level in nearly three years in June, reports Reuters. The Confederation of British Industry defied economists’ expectations that sales would drop more drastically this month.

The CBI found growth in orders was the fastest since December 2010 and expects sales to pick up once again in August. Consumer demand is said to be driving the recovery, though sectors like apparel and footwear have not yet seen demand return to normal levels.

The CBI cautioned that relative stock levels, which are expected to continue falling, labor shortages and supply chain issues may temper the recovery.

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