UK retail sales increased 1% in August due to warmer weather and end-of-season promotions.
UK retail sales rose by 1% in August, exceeding expectations due to warmer weather and end-of-season promotions, particularly in food and clothing sectors. This growth follows a 0.7% rise in July and marks the largest annual increase since February 2022. However, consumer confidence declined sharply in September, with the GfK index dropping seven points to -20, reflecting concerns over personal finances and the economic outlook.
September 20, 2024
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