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UK Retail Sales Rebound by 0.9% as June Heatwave Boosts Spending

July’s crash in consumer confidence, matched by £7bn of Budget cost hikes, casts doubt on the retail rebound.

People shop on Oxford Street in London, Britain April 10, 2023. REUTERS/Anna Gordon/File photo
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Overview

  • Retail sales volumes rose by 0.9% in June after a 2.8% slump in May, though overall trade remains below pre-pandemic levels.
  • Hot weather and a packed summer events calendar drove a 0.7% increase in food store sales and lifted drink purchases.
  • Motor fuel volumes jumped 2.8%, marking the biggest monthly gain since May 2024 as drivers took advantage of fine weather.
  • Non-store (online) retailers saw a 1.7% rise in sales volumes, the strongest monthly growth since February 2022, aided by promotions.
  • Quarter-on-quarter retail growth slowed to 0.2% in Q2, underscoring an uneven recovery against weakening consumer sentiment.