Volume of goods bought drops 1.2% between June and July after expanding in previous three months
Non-food stores’ sales volumes fell by 1.7 per cent in July, with retailers reporting that the fall over the month was because of poor weather reducing footfall.
Sales volumes were down 3.2 per cent compared with July last year even though consumers spent 1.1 per cent more than the same month last year, reflecting the impact of high inflation on household finances. Heather Bovill, ONS deputy director for surveys and economic indicators, said: “Retail sales fell sharply in July as poor weather impacted most sectors.”
“It was a particularly bad month for supermarkets as the summer washout combined with the increased cost of living meant sluggish sales for both clothing and food,” she said.Sandra Horsfield, economist at Investec, said she expected consumers to “struggle increasingly under the burden of higher interest rates” pushing the economy into a mild recession in the second half of this year and 2024.
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