UK retail sales grew in July after three months of sharp declines due to the restrictions imposed to contain the spread of the [coronavirus][1], the monthly Distributive Trades Survey data from the Confederation of British Industry showed Monday.
The retail sales balance rose to +4 percent in July from -37 percent in June. Economists had forecast the balance to improve moderately to -25 percent.
However, a net 5 percent expects sales to fall next month.
Alongside higher grocery volumes, sales of hardware & DIY products and other normal goods returned to growth in the year to July.
“The re-opening of non-essential retail was a vital step towards recovery but isn’t a cure-all,” Rain Newton-Smith, CBI chief economist, said.
“The Government has provided critical support for firms and jobs throughout the crisis. But ongoing financial pressures are a major challenge for some retailers, and additional direct support to shore up cash flow, such as extension of [business][2] rates relief, should be considered,” the economist said.
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