"Weak consumer confidence and uncertainty over the economic outlook are still putting a break on consumer spending across the whole retail sector"
- Judith McKenna, chair of the CBI Distributive Trades Panel and Asda's chief operating officer
Retail sales in the U.K. rose in June boosted by the Diamond Jubilee celebrations, said the Confederation of British Industry on Wednesday. The index measuring sales rose to 42 from 21 in May. Above 0 indicates higher sales volume, below indicates lower.
"The Jubilee provided a much-needed boost to our High Streets with many families and communities making the most of the Bank Holiday and coming together to celebrate," said Judith McKenna, chair of the CBI Distributive Trades Panel and Asda's chief operating officer.
"However, it is notable that sales were still considered below par for the time of year. Weak consumer confidence and uncertainty over the economic outlook are still putting a break on consumer spending across the whole retail sector," she said.
© Dukascopy Bank SA