UK Retail Sales Increase by 0.5% Backed by the Euro 2020 Spending

Source: Office for National Statistics.

Retail sales in the UK staged a slight recovery in June, rising 0.5% from the previous month when sales dropped 1.4%, following a surge in people going out as pubs, bars, and restaurants reopened.

FTSE 100 Index gains +0.76%.

• Sales were boosted by a 4.2% increase at food stores as people purchased more food and drink during the Euro 2020 football tournament.
• The UK petrol and diesel sales also expanded in June by 2.3% as more people travelled but still remains 2.1% below pre-COVID levels.
• Non-food stores recorded a 1.7% decline in sales volumes, attributable to decline at furniture stores and clothing shops.
• Online purchases still remain higher than pre-pandemic levels, but the percentage of online sales dropped to 26.7% in June, from 28.4% in May.
• The overall retail sales are in good health as sales in June were 9% higher than the pre-pandemic levels, driven by strong rebound in April when non-retailers were allowed to reopen after recent COVID lockdown.