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UK Retail Sales Grow Faster In July, Helped By World Cup And Discounting

By Steve Wynne-Jones
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British shoppers spent more than expected in July, after hot weather and the World Cup continued to boost food sales and other retailers offered discounts, pointing to a solid start to the third quarter for the economy.

Retail sales volumes rose by 0.7%, and were 3.5% higher than a year earlier, above economists' average forecasts in a Reuters poll for a 0.2% monthly rise and a 3.0% annual gain.

This compares with sales growth a year earlier of just 1.1% though is below rates seen in 2015 and 2016.


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