Retailers in the UK made less sales in July. In a month-on-month comparison, revenues fell by 1.2 percent, as the statistics office ONS announced in London on Friday, pointing to bad weather conditions and high inflation. Analysts were surprised by the strength of the damper. The decline was twice as strong as expected. The British pound came under some pressure after the data.
The setback for British retailers is only the second in the current year. Revenues had risen for three consecutive months prior to the July sales decline. For June, the statistical office reported revised growth of 0.6 percent (previously 0.7 percent).
Clothing sales have fallen, citing the bad weather. In general, the high inflation also slowed down the business of British retailers, it said. (dpa)