UK retail sales stagnates in August
UK spending has stagnated in August as unpredictable weather and late bank holiday adversely affected retail sales of furniture, clothing and equipment.
According to the British Retail Consortium, retail spending in August was only 0.1% higher than the same period of 2014, while the rise has been only smallest since April.
When adjusted due to the impact of dropping of prices in high-street, the sales were up by 1.4% in August.
BRC director-general Helen Dickinson said: "Retailers will hope to recoup that sales deficit in September and to start feeling the effect of higher real wages."
Sales of apparel and footwear had both been badly impacted, thereby missing the important days of back-to-school purchases. On the flip side, sales of food rose 0.3% in the three months to August.
BRC director general Helen Dickinson said: "At this time of the year parents are busily shopping for back-to-school essentials like clothes, footwear and stationery and those sales will peak later this year."
"Large-ticket item categories like furniture and household appliances also experienced a decline in sales, again likely affected by the bank holiday distortion."
Image: Apparel retailers faced low sales due to bank holiday. Photo: Courtesy of tiverylucky/ FreeDigitalPhotos.net.