In August British consumers spend more

In August British consumers spend more

In August, UK shoppers stepped up their spending at the fastest tempo this year, excluding a soar in April generated by the Easter holiday. However, there’s little indication yet that the squeeze on spending is going down, as retailers told on Tuesday.

Evidently, retail sales leapt by an annual 1.3% on alike-for-like basis, as the British Retail Consortium informed.

Surge in total sales in August turned to be the highest non-Easter outcome of 2017, ascending by 2.4%, speeding up from a leap of 1.4% in July.

Non-food sales are still at levels observed two years ago. Obviously, firm food sales mostly reflect ascending prices, with surge in volume terms weaker compared to the previous year, as the BRC told.

A steep drop in the value of the British pound since the Brexit vote in June last year, combined with poor hikes in pay, has drastically affected the spending power of households in United Kingdom who are the number one drivers of the UK economy.

Similar

American import prices rally a bit

In April, American import prices surged less than anticipated in April due to the fact that jumps in the cost of food and petroleum were tamed by the largest tumble in the price of capital goods for a decade, dropping a hint at the fact that inflation…

Latest news

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera