Britain's Retail Sales Recoil On Bad June Weather
Faizan Hashmi Published July 21, 2016 | 04:02 PM
LONDON,(APP - UrduPoint / Pakistan Point News - 21st july,2016) : British retail sales sank in June by the heaviest amount in six months, hit by poor weather rather than Brexit uncertainty, official data showed Thursday. Sales by volume fell by 0.9 percent in June compared with May, the Office for National Statistics (ONS) said in a statement. That was worse than analysts' consensus forecast for a 0.6-percent drop in June, and followed a 0.9-percent gain the previous month. The ONS added there had been no anecdotal evidence from retailers of any impact from Britain's shock EU exit referendum that was held on June 23.
Bad weather conditions meanwhile hit demand for clothing and footwear last month. Department stores however were buoyed last month by sales linked to the Euro 2016 football tournament and the Queen's 90th birthday. "All store types showed growth in June with the exception of clothing and footwear which struggled again due to the changeable weather," said Melanie Richard, ONS head of retail sales. "But there was continued strong sales in department stores compared with last June, which were boosted by events such as Father's Day, the Euro 2016 football tournament and the Queen's official birthday."
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