Retail sales in the UK experienced a 0.6% increase in July, according to the latest data from the Office for National Statistics (ONS). This figure surpassed analysts’ expectations and is attributed to factors such as favorable weather and the women’s Euro football tournament. However, it is noteworthy that the publication of these figures was delayed by two weeks due to concerns regarding data quality.
In contrast, when examining the three-month period leading up to July, retail sales volumes decreased by 0.6% compared to the preceding three months. James Benford, the director general of economic statistics at the ONS, indicated that while supermarkets, sports shops, and household goods stores performed strongly at the beginning of the year, spending in these categories has declined since March. Nonetheless, this downturn was somewhat mitigated by increased sales online and in clothing and footwear stores.
The ONS has faced scrutiny over the reliability of its statistics, and Mr. Benford acknowledged past errors, assuring that there are “improvement plans” in place to address these issues. This context raises questions about the overall stability and accuracy of retail data moving forward.
Source: https://www.bbc.com/news/articles/c5yjd7v9xj0o?at_medium=RSS&at_campaign=rss