Relief as shoppers boost growth.

16th August 2019.

Shoppers boost growth to provide much needed relief for the retail sector and show that the UK consumer is capable of shaking off recession fears and worries about a no deal brexit.

Monthly retail sales rose in July, increasing by 0.2% – defying forecasts for a 0.2% fall.

Department stores rose 1.6%, the first increase this year whilst internet sales recorded a 6.9% jump in the month – the biggest rise for three years.

Gabriella Dickens, assistant economist at Capital Economics, said: “The rise in retail sales in July was encouraging and supports our view that the economy has picked up in [the third quarter].” Ian Geddes at Deloitte added: “July’s positive sales will come as a surprise to many as negative headlines continue to dominate coverage of the retail sector.”

The news will be welcomed by our members selling on credit to the retail sector.

See other posts on retail