British retailers saw sales rise last month after a boost from Euro 2024 and summer discounts, official figures showed, in a further sign of a growing economy.
The Office for National Statistics (ONS) reported that retail sales grew by 0.5% last month, after contracting by 0.9% in June.
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What went up and why
The increase was due to discounts in sports equipment shops and supermarkets as the Euros football matches made purchases, the ONS added.
High street retailers said sales of electronic goods such as football shirts, televisions and alcohol were strong during England’s trip to the Euro finals.
Football helped grocery sales recover even as other segments were sluggish. There was a decline in the purchase of footwear, clothing and household goods.
Election uncertainty, bad weather and less public movement are the reasons for the decline in June purchases. However, this was lower than first thought as the 0.9% contraction was revised down from 1.2%.
Apparel sales fell for the 11th consecutive month as temperatures rose late in the season in late July.
But online sales grew to 27.8% of all sales, the highest percentage since the COVID-19 pandemic month of February 2022.
The UK economy grew by 0.6% in the three months from April to June, according to official figures.
Why is it important?
Retail sales The sales figures are significant because household consumption, as measured by the data, is the largest expenditure across the UK economy. They can also help consumers monitor how they feel about their financial situation and the economy more broadly.
The latest ONS release caps a week of updates that have highlighted the economy Low inflation And More growth than the last two years, when Wages have grown rapidly rather than the overall pace of price increases.
The new government is confident of its overall success in increasing public spending and growing the economy.
But chancellor Rachel Reeves said she was leaving the Conservative Party A £22bn gap in public funding And was Poor economic heritage Any government after World War II.
Data released this week challenge this assessment.
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