The nation’s retailers notched a second successive month of sales growth in June, according to data released yesterday by the British Retail Consortium.
The uncharacteristic summer weather sent Britons out in their droves to buy, buy, buy pushing up the sterling value of retail sales by 7.8% in the twelve months to June – albeit lower than May’s even beefier 9.3% growth.
On a like-for-like basis (excluding increases in sales floorspace) sales were up by 5.7%. Said BRC director-general Bill Moyes: “This is what is needed if the industry is to maintain its record of investment and job creation.”
But there was less to celebrate within Britain’s manufacturing sector which failed to benefit from the good weather. The contrast with Britain’s booming high streets caused analysts to mutter darkly about “the country’s two-speed economy”.
News source: The Times (London)