UK consumer spending picked up in July, helped by hot weather early in the month (the UK Met Office said July was the UK’s fifth-warmest on record.) that boosted clothing sales, though momentum faded later as temperatures cooled.
The British Retail Consortium reported total sales up 2.5% year-on-year, slowing from June’s 3.1% gain
- like-for-like sales rose 1.8%
- Barclays data showed overall spending up 1.4%, rebounding from a 0.1% fall in June.
- food sales rose 3.9% on the year, reflecting both strong early-month demand and higher prices
- clothing sales jumped 4.2% — their fastest pace since September 2024.
Economists are watching to see if households will draw on savings to sustain spending as job losses mount and wage growth slows.
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GBP is little changed circa 1.3434
This article was written by Eamonn Sheridan at investinglive.com.