Warm weather and heavy discounts have helped drive a rebound in retail sales, potentially tempering fears of the UK economy grinding to a halt following the Brexit vote. A mini heatwave last month helped raise food and drink sales for barbecues and picnics, and also lifted fashion sales, the BRC said. It reported that consumer spending grew by 2.6% in July on a year earlier, but this was down from growth of 3.6% in May and June. July sales were up by 1.1% on a year earlier in like-for-like terms, according to the BRC’s monthly sales monitor, compiled with consultants KPMG. The BRC report noted a pickup in sales of jewellery and watches as some tourists were drawn to the UK for shopping splurges.

Source: The Guardian August 08, 2016 23:01 UTC