A release of pent-up demand after the coronavirus lockdown spurred a rebound in retail sales last month, although overall consumer spending remains far below normal levels, surveys showed on Tuesday.
FILE PHOTO: A woman walks past a sale sign on a branch of H&M on Oxford Street in London, Britain, January 17, 2020. REUTERS/Toby Melville
The turnaround is especially sharp when compared with a 19.1% fall in spending recorded in April, when lockdown restrictions were greatest. Separately, payment card company Barclaycard said overall consumer spending fell 14.5% in annual terms in June - the smallest decline since lockdown began. “Though a month of growth is welcome news, retail is not out of the woods yet. The pandemic continues to pose huge challenges to the industry, with ongoing stores closures and job losses across the UK,” said BRC chief executive Helen Dickinson.
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