UK Retail Sales Plunge by 2.5% in July but Remain Above Pre-Pandemic Levels

UK Retail Sales Plunge by 2.5% in July but Remain Above Pre-Pandemic Levels

(Office for National Statistics) Retail sales in the UK declined by 2.5% between June and July as soccer frenzy waned and Covid-19 pandemic cases bite.

UK Retail Sales Plunge by 2.5% in July

Despite the July fall, retail sales were still up 5.2% in the three months to July, compared to the prior three months.

July retail sales were also 5.8% above the pre-pandemic level in February 2020.

Food store sales declined by 1.5% in July, after an increase in June following heightened activity during the Euro 2020 championships.

Non-food stores saw a 4.4% plunge in sales volume in July, compared to June.

Sales of automobile fuels fell 2.9% month over month, the first decline since February this year.

Online retail sales continued to increase, with a proportion of 27.9% in July, from 27.1% in June.

FTSE 100 is down -0.19, GBPUSD is down -0.07%

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