UK Retail Sales Post Steepest Decline in Seven Months

Source: Office for National Statistics

UK’s combined online and in-shop retail sales volumes declined by the fastest pace in seven months in July but remained above levels seen before the COVID-19 pandemic hit.

• Retail sales volumes fell 2.5%, following the 0.2% climb in June. This is the biggest decline since January.
• The latest reading remains 5.8% higher than the levels seen in February 2020, prior to the COVID-19 pandemic.
• Food store sales volumes declined 1.5% after sales were driven by the Euro 2020 football championship the previous month. Sales are still 4.9% above pre-pandemic levels.
• Non-food store sales fell 4.4%, with declines seen in second-hand goods and computer and telecoms equipment. Transportation delays have also caused shortages.
• Automotive sales fell for the first time in six months amid heavy rainfall in early July.
• Online sales accounted for 27.9%