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UK June retail sales below estimates

India Infoline News Service/ 17:38 , Jul 19, 2012

The Queen's Jubilee celebrations, which led to a two-day bank holiday in June, did not appear to have had a significant impact on retail sales.

UK retail sales volumes saw a 0.1% monthly rise in June and were up 1.6% compared to the same month last year, the Office for National Statistics (ONS) reported on Thursday. Economists had forecast a 0.5% monthly rise and a 2.2% year-on-year gain. 

Growth in UK retail sales nearly stalled in June, with bad weather contributing to a contraction in sales of the food sector. The wet summer weather hit sales of barbecue food. 

The Queen's Jubilee celebrations, which led to a two-day bank holiday in June, did not appear to have had a significant impact on retail sales.

Sales by value fell 0.5% last month, compared with May, but increased 1.9% on the year, the latest ONS figures showed. 

Store price inflation slowed to 0.3% in June, the lowest since October 2009. 

In textile, clothing and footwear stores, prices actually fell 3.5% compared to the preceding month. This helped to boost sales in the sector, with volumes rising 2.5% compared with May.

 



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