This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/business-40959233

The article has changed 6 times. There is an RSS feed of changes available.

Version 0 Version 1
UK retail sales growth slows in July UK retail sales growth continues in July
(35 minutes later)
UK retail sales growth slowed in July as consumers cut back on buying most goods other than food, according to the latest official figures. UK retail sales increased in July as stronger spending on food offset a fall in the purchase of other goods, according to official figures.
Sales grew by 0.3% compared with June, the Office for National Statistics (ONS) said. The volume of sales grew by 0.3% compared with June, the Office for National Statistics (ONS) said.
Strong food sales drove the growth, while most of the other main sectors showed a decrease. However, the figure for June's retail sales growth was revised down from 0.6% to 0.3%.
The gap between wages and inflation is continuing to widen, putting pressure on household spending.The gap between wages and inflation is continuing to widen, putting pressure on household spending.
In June sales rose by 0.6% against May.
Ole Black, ONS senior statistician, said it was a "relatively subdued picture" in retail sales".Ole Black, ONS senior statistician, said it was a "relatively subdued picture" in retail sales".
"Strong food sales have been responsible for the growth of 0.3% in July compared with June, as all other main sectors have shown a decrease. Whilst the overall growth is the same as in June, trends in growth in different sectors are proving quite volatile," he said."Strong food sales have been responsible for the growth of 0.3% in July compared with June, as all other main sectors have shown a decrease. Whilst the overall growth is the same as in June, trends in growth in different sectors are proving quite volatile," he said.
However, Ruth Gregory, UK economist at Capital Economics said the July figures were "fairly encouraging given the recent intensification of the squeeze on consumers' real incomes and suggest that talk of a sharp consumer slowdown has been overdone".
She said there had been few signs of a sharp slowdown in spending growth away from the high street.
"What's more, with annual retail sales values growth remaining at a still strong 4.1% in July, this suggests that consumers haven't been tightening their belts as a result of Brexit uncertainty," she said.