Uk Retail Sales Rose In July

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British retailers reported an unexpected increase in sales in July, with sales in June also significantly higher than previously expected. That's what Thursday's data showed, raising hopes that Britain's recession may not be as deep as feared.

Data published by the Office for National Statistics (ONS) showed retail sales rose 0.3% in the month, although economists had expected a decline of around 0.1% on the previous month.

ONS has revised its sales growth rate for June to 0.8% from the previously reported increase of approximately 0.1%, narrowing the drop in overall retail sales in the second quarter. Over the past six months, sales were down just 0.3% compared to the same period last year. Current past 3 months of 2012.

Food retail stores' sales volume increased by 0.4% in July, compared to non-food stores, which are still facing recession, with sales volume decreasing by 1.8% month-on-month. Internet sales continued to be strong, with sales increasing by around 14% on the previous year to over £500 million.The Internet now accounts for nearly 8.5% of his total retail sales, excluding fuel.

Philip Shaw, chief economist at Investec, said the overall numbers were better than expected. Considering June's large and important upward revision, retail spending is actually more robust than previously thought. He added that while economists will clearly see the impact of the Olympics in next month's statistics, the high street numbers are currently much higher than expected. Maybe things will get better.

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