Retail Records

The ONS reports that (by value) retail sales for the month of July are up 1.6% on June, and 3.6% on the equivalent July 2015 figure. This is hard data from the post-referendum period, which seems to fly in the face of the waning confidence figures produced last month. Digging into the data: the seasonally adjusted weekly sales value is the highest it has been; the month-on-month in-store growth is at its highest rate since December 2013, and the annual growth in online sales in running at 16.7%. Wait for more signs of confidence vs reality.