Proactive Investors - Retail sales rebounded in August, boosted by spending on food and clothing after the bad weather kept consumers away from the high street in July.
Figures from the Office for National Statistics (ONS) showed retail sales climbed 0.4% in August, after falling 1.1% in July (revised from a fall of 1.2%).
The figure was slightly below City hopes for a rise of 0.5%.
Heather Bovill, ONS deputy director for surveys and economic indicators, said: “Retail recovered a little from the large fall seen in July, driven by a partial bounce back in food and a strong month for clothing, though sales overall remain subdued.”
On a three-month view to August, retail sales rose by 0.3% when compared with the previous three months.
Retail sales grew 0.4% in August 2023, partially recovering from a revised fall of 1.1% in July 2023.When we look more broadly, sales rose 0.3% in the 3 months to August when compared with the previous 3 months.
➡️ https://t.co/GmTxquZPSs pic.twitter.com/ZEkacznE20
— Office for National Statistics (ONS) (@ONS) September 22, 2023
Food stores sales volumes rose by 1.2% in August, following a fall of 2.6% in July when supermarkets reported that the wet weather reduced clothing sales, and supermarket food sales also fell back.
Non-food stores sales volumes grew by 0.6% in August, following a fall of 1.2% in July when poor weather reduced footfall.
Non-store retailing (predominantly online retailers) sales volumes fell by 1.3% in August, following a rise of 1.9% in July when wet weather and a range of promotions boosted sales.
The percentage of retail sales taking place online fell from 27.4% in July to 26.9% in August.
Automotive fuel sales volumes fell by 1.2% in August, with retailers suggesting the fall was linked to a sharp increase in petrol and diesel prices.