UK Retail sales fell -3.9% in June 2008, reversing the unexpected May performance of +3.6%. Too much importance should not be given to a single monthly performance but the overall retail sales trend is weakening.
Key findings from the ONS report:
- Retail sales volume rose by 0.6 per cent in the three months to June 2008 compared with the previous three months.
- Three-monthly growth in sales volume fell by 0.2 per cent for predominantly food stores. In predominantly non-food stores sales rose by 1.1 per cent. Sales in the non-store retailing and repair sector rose by 0.8 per cent.
John Lewis reported improved sales apart from out of town stores, which declined possibly reflecting higher fuel costs: Times article