Published on July 24th, 2014 | by The GC Team0
UK retail sales record sustained growth
The Office for National Statistics today reported that UK retail volumes rose 3.6% year on year in June and 0.1% on May 2014, with all retail sectors showing estimated increases for the first time since March 2012.
Volume sales in the second quarter of the year grew 4.5% on Q2 2013.
The ONS said the 3-month on previous 3-month movement showed continued growth for the sixteenth consecutive period, increasing by 1.6%. This is the highest calendar quarter since March 2004 (1.9%) and the longest period of sustained growth since November 2007.
The average prices of goods sold in June showed no change compared with June 2013, after a fall of 0.7% in May 2014.
Retail spending increased 3.5% year on year and 0.8% on May 2014. Non-seasonally adjusted data showed that the average weekly spend was £7.1 billion compared with £6.8 billion in June 2013 and £6.9 billion in May 2014.
Online sales grew by 13.4% year on year, but declined 0.1% on May.