The Office for National Statistics said growth in retail sales volumes was static at 0.3% after revising the figure for June down to the same level, although the result still beat analysts’ expectations for a modest rise of 0.2%. Strong food sales in stores at 1.5%, up from 1.1% a month earlier, helped offset a decline elsewhere, said Ole Black, an ONS senior statistician. UK retail sales growth flat but beats forecasts - business live Read moreThe annual rate of sales volumes was 1.3% in July, down from 2.8% in June and considerably lower than the higher rates towards the end of 2016. Online sales increased by 15.1% year on year and by 0.3% month on month, accounting for approximately 16% of all retail spending. Howard Archer, the chief economic adviser to the EY Item Club, said the retail sales figures showed continuing consumer caution amid squeezed purchasing power and weakened confidence.

Source: The Guardian August 17, 2017 09:00 UTC