Retail sales strong in July
Analysis by the Confederation of British Industry (CBI) shows that UK retailers saw strong sales growth in July, although the rate was down slightly on June, which had seen the fastest rise since 2018. The CBI data shows that retail sales volumes rose 23% in July, having jumped 25% in the previous month. The CBI survey of 124 firms shows that for July, companies reported the fastest growth in orders for more than a decade, amid 49% year-on-year growth. Ben Smith principal economist at the CBI, said the July figures show that “consumer demand continues to support the UK’s economic recovery”.