British retail sales surprisingly rose overall in July but consumer confidence is at a record-low as the United Kingdom heads toward recession.
Sales by volume gained 0.3 percent last month after a slight drop in June, the Office for National Statistics said, while analysts’ consensus had been for another fall.
“However, fuel sales fell with some evidence suggesting the very hot weather meant fewer people traveling.”
Morgan added that another fall in sales of clothing and household goods indicated “consumers are cutting back due to increased prices and concerns around affordability and cost of living”.
Separate data today showed UK consumer confidence at a record low.
