Retail sales rebounded in June as the sunny weather put consumers in the mood to update their summer wardrobes. Ian Geddes, head of retail at the consultancy Deloitte, said the sunny weather had brought a “Glastonbury feelgood factor” to Britain’s high streets. The first estimate of UK growth in the second quarter, published by the ONS next week, is expected to show a slight pick-up from 0.2% growth in the first quarter. “The GDP figures for the second quarter are likely to confirm this picture of subdued economic growth. Reflecting the fall in inflation, the ONS said retail sales annual growth in shop prices – including petrol stations – slowed to 2.7% in June from 3.2% in May.

Source: The Guardian July 20, 2017 11:01 UTC