Retail Sales Just Keep Rising… And We’re Here for It!
According to the Office for National Statistics, sales in Great Britain kicked off August with a solid +1 % jump in overall retail volumes—up from July’s modest +0.7 %. Non‑food stores weren’t left behind either, nudging up +0.6 %, while the food sector partyed it up with a hearty +1.8 %.
That’s a far cry from the prediction of a cool +0.3 %.
What the Boss Tells Us
Charlie Huggins, the sharp-eyed manager of the Quality Shares Portfolio at Wealth Club, had a few words that echo through the aisles:
- “Retail sales blew past expectations this August,”—thanks to a strong push from food and clothing.
- “Summer vibes and end‑of‑season discounts brought more shoppers into the stores.”
- “Despite looming budget uncertainty, UK consumers aren’t pulling back—looks like we’re in pretty good shape.”
- “Wages are climbing, mortgages are falling, and at least for now the Bank of England’s interest rates stay put.”
- “The forecast? Retailers can feel reasonably confident heading into the rest of the year.”
In short, folks are shopping hard, wages are coughing up a bit of extra cash, and mortgage rates are doing the opposite dance—an optimistic recipe for retail success.
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