UK retail sales fall unexpectedly in August – business live – world latest news headlines

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Retail sales in Great Britain fell last month, another sign that the economy cooled in the summer, and people spent more time eating and drinking in bars and restaurants.

Sales volume declined 0.9% in August, beating expectations of a 0.5% growth in sales, and retailers suffered a 2.8% drop in July.

That suggests it was a tough summer for retailers, as the initial surge in demand faded after the spring reopening.

Recently released new figures national statistics office Shows that spending at food stores fell – as more people ate while following the easing of lockdown rules.

Department store sales also declined, which have now fallen every month since April 2021, while spending on motor fuel rose as more people returned to the road.

Jonathan Atho, we The Deputy National Statistician for Economic Statistics explains:

“Sales fell again in August, though not nearly as much as in July and, overall, remained above their pre-pandemic levels.

“Other data suggests that the decline in food store sales is linked to an increase in eating out after the lifting of coronavirus restrictions.

“Meanwhile, motor fuel sales increased in the month as more people moved out, but they remained below pre-pandemic levels.”

Here is the details:

• food store sales volume declined by 1.2% in August 2021, with some evidence to suggest that further easing of hospitality restrictions had an impact on sales; People increased their social spending such as food and drink in restaurants and bars.
• non-food stores Sales volume declined 1.0% in August 2021 due to declines in department stores (negative 3.7%) and other stores, such as sports equipment and computer stores (negative 1.2%).
• motor vehicle Fuel sales increased 1.5% in August 2021 as people continued to increase their travel volume; However, they remained 1.2% below their pre-pandemic February 2020 levels.
• ratio of retail sales onlineE increased to 27.7% in August 2021 from 27.1% in July, significantly higher than 19.7% in February 2020 before the pandemic.

Compared to a year ago, sales volume was flat. This still leaves them at 4.6% above their pre-pandemic levels.

More details and feedback follow…

We will also keep an eye on Europe’s energy price crisis, which threatens to derail the region’s economic recovery. Profits are being hit by a lack of supply, and some manufacturers are being forced to close – including two UK fertilizer plants.

Investors are also watching the latest US Consumer Confidence Report, a sign that the delta version has affected confidence.

We also find updated Eurozone consumer price data, which confirms that inflation hit a decade high of 3% in August.

European markets are set to open strongly on the last trading day of the week.

work schedule

• 7am BST: Great British Retail Sales for August
• 10am BST: Eurozone Inflation Rate for August (Final Estimates)
• 3pm BST: University of Michigan Survey of US Consumer Sentiment in September