POUND NOTES
POST OFFICE CASH WITHDRAWALS IN JULY RIVAL CHRISTMAS
The amount of cash withdrawn by consumers from Post Offices in July was the highest total recorded outside the busy Christmas period.
Personal cash taken out totalled £665 million in July, as some households had more opportunities to spend.
Personal cash withdrawals in July were up 4.6% month-onmonth and up 14.3% year-onyear, indicating that consumers are spending cash on retail and hospitality as coronavirus restrictions are eased, the report said.
The July total topped the £641 million-worth of withdrawals made in December 2020, but was lower than a record £707 million withdrawn in December 2019.
Martin Kearsley, banking director at Post Office said: “As some banks continue to close branches, either permanently or in response to staff shortages during the pandemic, Post Offices are ‘the last counter in town’ in many places across the country.”
RETAIL SALES BOOST COOLS AS ENTERTAINMENT GOES UP Retail sales continued to rise last month, although poor weather hampered the high street as shoppers stayed away.
The British Retail Consortium (BRC) and KPMG found that online sales remain strong with formalwear and beauty sales particularly high, as weddings finally got the go-ahead.
But the entertainment industry saw growth up 8.1% and pubs, bars and clubs saw sales up 30.5% compared to July 2019.
Helen Dickinson, chief executive of the British Retail Consortium, said: “The lifting of restrictions did not bring the anticipated in-store boost, with the wet weather leaving consumers reluctant to visit shopping destinations.”