UK retail sales dipped only slightly in August following a bumper July in the latest sign that the Brexit vote has done little to dent consumers’ willingness to spend. Sales fell by 0.2% last month, driven by lower sales of clothing, shoes, and household goods according to the Office for National Statistics. But it was a better-than-expected performance, with economists forecasting a 0.4% drop, partly because July was an unexpectedly strong month on the high street. It was the best July for retail sales in 14 years. George Salmon, equity analyst at Hargreaves Lansdown: “Hopes had been building for something of a summer recovery on the UK high street, but Next’s comments today have tempered that optimism a touch.”

Source: The Guardian September 15, 2016 10:01 UTC