Shoppers keep on spending
SHOPPERS have defied Brexit concerns to continue their spending spree over the summer, figures show.
Retail sales were up 0.3% in August on the month before, according to the Office for National Statistics.
Sales of household goods jumped by 4.5% while other non-food stores enjoyed a 2.8% rise. However, food sales fell by 0.6% and clothing fell by 1.9%.
The last three months of summer from June to August saw sales rise by 3.4% compared with the previous summer, with food and household goods stores doing well in the warm weather.
Spending online continued to increase to reach a new record proportion of all retailing at 18.2%, while spending in department stores also reached a record proportion at 18.4%.
ONS senior statistician Rhian Murphy said: “The figures for August were a little more mixed, with food sales falling after strong sales earlier in the summer, and clothing sales declining following a strong July, as suggested by clothing retailers.
“On the other hand, household goods grew strongly.”
Tom Stevenson, investment director at Fidelity International, said: “We are likely to see consumers start tightening their belts again.”