Global Economic News

UK Like-For-Like Sales Jump 1.1% In July - BRC

The total value of like-for-like sales in the United Kingdom surged 1.1 percent on year in July, the British Retail Consortium said on Tuesday.

That beat forecasts for a decline of 0.7 percent following the 0.5 percent fall in June.

Analysts suggest that retailers offered heavy discounts to get consumers back in the stores following the Brexit vote.

"This month's solid sales figures may come as a shock to some, given the slew of early indicators suggesting that consumer activity was slowing in the wake of the referendum result," said BRC chief executive Helen Dickinson.

by RTTNews Staff Writer

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