British Retail Industry Showed Weakness In July

2011/8/23 18:27:00 23

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Britain

National Bureau of Statistics

Data released on the 18 day showed that retail sales rose in July, but sales were flat compared with the same period last year.

Inflationary pressure

Influence.

Retail sales increased by 4.3% in July compared with the same period last year, but sales remained unchanged.

If vehicle fuel is excluded, sales will shrink by 0.2% over the same period last year.

The British Retail Association predicted earlier this month that retail sales in the UK will grow by 0.6% in July.

Because of high inflation, family income has been relatively reduced, and consumers continue.

Cut down

Household expenses.

Data showed that sales of household goods, clothing and shoes fell in July.

Market analysis suggests that the outlook for the retail industry is relatively low, and the uncertainty of the global economic outlook will cause consumer confidence.

negative

Influence.

A day earlier, the National Bureau of Statistics announced that in July, the UK's annual consumer price index rose by 4.4%, an increase of 0.2 percentage points over June.

This is more than double the 2% inflation target set by the government.

The latest quarterly inflation report released by the Bank of England last week predicted that inflation in the country would still rise in the autumn and hit a 5% high.

In the 42 months ended July, the UK had a consumer price index for 36 months.

Gain

Higher than this inflation target.

The UK economy grew by 0.2% in the second quarter of this year, down from 0.5% in the first quarter.