"Feedback from department stores suggested sales had increased due to promotions and consumers buying clearance items across a wide range of products,"
- The Office for National Statistics
Sales at British retailers advanced for a second month in a row, helped by discounts at department stores, which drove demand for clothes and electrical products higher. According to data from the Office for National Statistics, sales including fuel jumped 0.2% from May, when they soared 2.1%, while analysts expected a slightly stronger gain of 0.3%. On an annual basis sales increased 2.2%. At the same time, sales at food, clothing and footwear stores recorded a 0.1% and 0.3% drop respectively in June. In contrast, department store sales registered a 3% jump, the highest since March 2012. Between the first quarter of 2008 and this year's first three months, the volume of sales advanced by 1.2%. Over the same period, the value of sales rocketed 12.8%, highlighting the constant rise in prices since the onset of the economic crisis.
It seems that retail sales held up relatively well during the second quarter, with consumer spending growing almost twice since the first quarter. The strengthening mood among consumers is adding to evidence the pace of economy recovery has picked up since the beginning of 2013, and there are encouraging signs the momentum will be sustained in the upcoming months.
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