High Hope For Retail Recovery Dashed

The summer weather resulted in a much needed boost in retail sales over June and July, which prompted many economists to suggest that the UK’s economy was on the road to recovery.

However, low reported retail sales in August have undermined any hope of high street recovery.
According to the British Retail Consortium not only has the growth witnessed in June and July not continued in August, retail sales have actually dropped by 1%.
A source from the, BRC, comments: ‘ There is no doubt that the good weather we experienced in June and July accelerated a retail sales, however, many people working within retail felt that this upturn represented a general turn in consumer behavior. However, as August’s figures indicate, the UK’s high street is far from being on the road to recovery.”