(Sharecast News) – UK retail sales pushed higher last month, official data showed on Friday, beating expectations.
According to the Office for National Statistics, retail sales volumes were estimated to have risen by 0.7% month-to-month in June. That follows a 0.1% in increase in May, revised down from an initial estimate for a 0.3% rise.

Consensus had been for a 0.2% increase in June.

Increases were seen across all the main sectors apart from automotive fuels, which fell 0.3% following a 1.7% jump in May.

Non-food sales rose by 1%, compared to a 0.5% decline a month previously, with summer sales boosting footfall and volumes at department stores and furniture retailers in particular.

Food sales rose 0.7% after a 0.4% dip in May, helped by unusually warm weather and supermarket promotions.

Grant Fitzner, ONS chief economist, said: “Retail sales grew strongly, with food sales bouncing back from the effects of the extra bank holiday, partly helped by good weather, and department stores and furniture shops also having a strong month.

“However, these were partially offset by falls in fuel, garden centres and clothes shops.”

In the three months to June, retail sales volumes rose by 0.4% when compared to the three months to March.

Year-on-year, sales volumes were down 1%, although the ONS noted that it was the slowest rate of decline since the beginning of the Ukraine war. It was also an improvement on May’s 2.1% fall and above consensus, for a 1.6% drop.

Gabriella Dickens, senior UK economist at Pantheon Macroeconomics, said: “We expect sales volumes to rise further in the second half of this year, as real disposable incomes start to recover. Month-to-month increases in wages will outpace price rises in the third and fourth quarters, as energy prices fall back and the rate of increases in both food and core goods prices slows, in line with producer prices.”

Related articles

UK manufacturing sector sees output slip – CBI

UK manufacturing sector sees output slip – CBI

(Sharecast News) - The UK's manufacturing sector continued to struggle in September, a survey showed on Friday, as higher costs weighed heavily. According to the latest CBI Industrial Trends Survey, total orders fell to a five-month low of -18 in September, from -15 a...

UK private sector output unexpectedly falls – PMI

UK private sector output unexpectedly falls – PMI

(Sharecast News) - UK output unexpectedly fell in September, a closely-watched survey showed on Friday, dragged lower by a weaker service sector. The latest flash S&P Global/CIPS UK PMI Composite Output Index came in at 46.8, down on August's 48.6 and a 32-month low....

UK retail sales rise 0.4% in August after wet July

UK retail sales rise 0.4% in August after wet July

(Sharecast News) - UK retail sales rebounded in August from the rain affected prior month, rising 0.4% on the back of strong food and clothing purchases by consumers, according to official data published on Friday. The rises in food and clothing were partially offset...

Latest Articles

Redde Northgate says demand still outstripping supply in UK, Ireland

Cussons holds guidance despite fall in FY profits

(Sharecast News) - Personal care consumer goods maker PZ Cussons on Tuesday held annual guidance despite a fall in full-year profits as cost inflation and issues at its Nigerian operation continued to weigh. The maker of Imperial Leather soap said pre-tax profit fell...

British Land upbeat as leasing activity picks up in Q2

Volumes, pricing drive 20% profit rise at Smiths

(Sharecast News) - Engineering group Smiths hailed a 20% rise in annual operating profit, driven by volume growth and higher prices which offset the impact of inflation. The company on Monday said profit for the year to July 31 came in at £501m as revenue jumped 18.3%...

Sector movers: Personal Goods, Big Tobacco pace losses

Sector movers: Personal Goods, Big Tobacco pace losses

(Sharecast News) - Personal Goods was at the bottom of the pile at the start of the week as concerns around China's property sector continued to nag investors. Hence the hefty decline in luxury goods retailers including Burberry. On Sunday, Chinese property developer...

Join our mailing list

Subscribe to our mailing list to receive regular updates!

No Fields Found.