Latest news with #retailsales
Yahoo
16 hours ago
- Business
- Yahoo
UK retail sales downturn stretches into tenth consecutive month
UK retail sales volumes experienced a drop in July 2025 marking the tenth consecutive month of decline amid subdued demand and economic uncertainty, according to the Confederation of British Industry's (CBI) monthly Distributive Trades Survey. The outlook indicates that this downward trend in annual sales volumes will continue at a similar rate into August. Retail sales volumes 'contracted at a strong rate' in July, although the pace of contraction was slow, with a weighted balance of -34% compared to -46% in June.. Retailers predict that the decline in sales will maintain a comparable pace in August at -31%. When evaluating sales against seasonal expectations, retailers considered July's performance as 'poor', but less so at -10% than in the previous month. Despite this slight improvement, projections for August suggest sales will fall further below what is typically expected for the season by -36%. Online retail sales experienced a slight increase in July, continuing a three-month trend of growth. This modest rise is expected to persist at 4% into August. CBI principal economist Martin Sartorius said: 'Firms reported that elevated price pressures – driven by rising labour costs – and economic uncertainty continue to weigh on household demand, which has contributed to sales volumes falling since October 2024. These trends of weak demand and uncertainty were mirrored across the wider distribution sector, with wholesale and motor trades also seeing declining sales.' Wholesale trade saw a decrease in sales volumes by -32% for July, maintaining nearly the same rate as observed in June (-34%). Anticipations for August forecast a similar pace of decline of -30%. The motor trade sector faced its most severe annual reduction in sales volumes since June 2020 during July at -77%, down from -37% in June, with motor traders bracing for another steep decline of -57% in August. Overall distribution sales volumes, which include retail, wholesale, and motor trades, dropped sharply in July at an unchanged rate of -39% from the previous month. The outlook for August suggests a marginally slower contraction of -34%. 'With long-term strategic ambitions outlined, the government must now seek to build shorter term confidence in its growth mission. It can do this by collaborating with business to deliver an Autumn Budget that acknowledges the burden firms are facing and sets clear policy delivery targets. This includes providing clarity on how the government will deliver its action plan to tackle regulatory barriers to growth, position businesses to invest in the people they need through a flexible Growth and Skills Levy, and find an appropriate landing zone for the Employment Rights Bill,' Sartorius stated. "UK retail sales downturn stretches into tenth consecutive month" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
17 hours ago
- Business
- Reuters
Spain retail sales rise 6.2% year-on-year in June
July 29 (Reuters) - Spanish retail sales rose 6.2% in June from a year earlier on a calendar-adjusted basis and excluding the effects of inflation, after rising by a revised 5.0% in May, the National Statistics Institute (INE) said on Tuesday. May's figure was revised up from a preliminary increase of 4.8%, INE said.
Yahoo
2 days ago
- Business
- Yahoo
Sunny weather boosts UK retail sales in June
Retail sales volume in the UK rose by 0.9% in June 2025, recovering from a steep 2.8% fall in May but still falling short of economists' expectations of a 1.2% rise. The Office for National Statistics (ONS) attributed this rebound to England's warmest June on record, which spurred demand for food and drink, automotive fuel and summer clothing. dr kris hamer's response to ons retail sales dataDr Kris Hamer, director of Insight at the British Retail Consortium (BRC), responded to the latest ONS Retail Sales Index, which showed retail sales up 3.5% by value and 1.8% by volume year‑on‑year. He noted that warm, sunny weather encouraged higher spending on cooling appliances, food and drink, and social gatherings. Hamer warned that consumer confidence declined in July, exposing sales performance to risk for the rest of the summer. Retailers were facing around £7 billion of additional costs stemming from last year's budget, which could force higher prices or cutbacks in investment if further taxation measures are introduced. Context: seasonal spending and broader economic backdrop Retailers across food stores, non‑store (online) outlets and automotive fuel segments recorded gains. Online spending reached its highest level since February 2022, with fuel sales up 2.8%. In contrast, household goods and second‑hand retailers saw slight declines, attributed to reduced footfall. Despite the mid‑year bounce, overall retail sales remain below pre‑pandemic volumes, and quarterly growth has weakened. Inflation climbed to 3.6% in June, notably driven by food prices, further tightening household budgets. Growth supported by weather and live events According to multiple analysts, the warm weather combined with a packed live events calendar—such as Wimbledon and major concerts—helped spur extra retail activity around hospitality and leisure sectors. Barbecues, drinks and event-related outfits supported sales in supermarkets and department stores, while department store sales rose by around 2.1%. Consumer sentiment and what lies ahead While June brought a temporary uplift in retail sales, consumer sentiment turned sour in July, as confidence slipped and households prepared for potential tax increases in the autumn Budget. With £7 billion in budget-driven cost pressures hitting retailers, concerns are mounting over pricing, investment and jobs in the coming months. Analysis of retail trends and risks weather-driven boost – the record high temperatures prompted impulsive food, drink and fuel purchases along with demand for cooling devices. online spending rebound – non-store retail volumes rose 1.7% in June, the strongest since early 2022. Fuel and hospitality segments saw double‑digit growth. economic fragility ahead – a sharp fall in confidence during July compounded by rising inflation and looming fiscal policy risks places the rest of summer trading under pressure. With cost-of-living and inflation concerns still strong, and uncertainty around taxation and spending entering the autumn, analysts say retailers can expect subdued consumer demand and tight margins in the weeks ahead. "Sunny weather boosts UK retail sales in June" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Sky News
5 days ago
- Business
- Sky News
Good economic news as sunny weather boosted retail sales
Retail sales grew in June as warm weather boosted spending and day trips, official figures show. Spending on goods such as food, clothes and household items rose 0.9%, the Office for National Statistics (ONS) said. It's a bounce back from the 2.8% dip in May, but last month's figure was below economists' forecast 1.2% uplift as consumers dealt with higher prices from increased inflation. Also weighing on spending was reduced consumer confidence amid talk of higher taxes, according to a closely watched indicator from market research firm GfK. Retail sales figures are significant as they measure household consumption, the largest expenditure in the UK economy. Growing retail sales can mean economic growth, which the government has repeatedly said is its top priority. 0:56 Where have people been shopping? June's retail sales rise came as people bought more in supermarkets, and retailers said drinks sales were up. While hot and sunny weather boosted some brick-and-mortar shops, the heat led some to head online. Non-store retailers, which include mainly online shops, but also market stalls, had sold the most in more than three years. Not since February 2022 had sales been so high as the Met Office said England had its warmest ever June, and the second warmest for the UK as a whole. The June increases suggest that the May drop was a bump in the road. When looked at as a whole, the first six months of the year saw retail sales up 1.7%. Filling up the car for day trips to take advantage of the sun played an important role in the retail sales growth. When fuel is excluded, the rise was smaller, just 0.6%. Welcome news Despite lower consumer sentiment and more expensive goods, consumers are benefitting from rising wages and are cutting back on savings. The ONS lifestyle survey - backed up by hard data like the Bank of England's money and credit figures - shows that households have rebuilt their rainy day savings and are cutting back on the amount of money they squirrel away each month.
Bloomberg
5 days ago
- Business
- Bloomberg
Toronto Retail Sales Weak Due to Tariff Damage, Real Estate Slump
By and Curtis Heinzl Save Retail sales in Toronto are lagging the rest of Canada, as the region that depends on manufacturing exports shows signs of struggling economic growth. Sales receipts from retailers in Toronto fell 2.8% in May, according to data released Thursday by Statistics Canada. Retail sales in the city grew just 2.4% from a year before, less than half the nationwide growth rate.
