UK retail sales hit by Olympics

Written By Emdua on Kamis, 20 September 2012 | 16.27

Retail sales in the UK fell during in August as people put off shopping to watch the Olympics, figures show.

Sales fell 0.2% in August from July, according to the Office for National Statistics (ONS).

The ONS said the decline was driven by a fall in online sales, as consumers watched the Olympics instead of shopping on the internet.

However, sporting goods and toy stores saw a sales boost from the Olympics and the new football season.

Compared with a year earlier, sales volumes rose by 2.7% in August, said the ONS.

Online retail sales in August accounted for 8.1% of total retail sales, a fall from the 9.0% recorded in July. It was also the lowest proportion in a year, it said.

Analysts said the weak overall sales figure underlined persistent worries over the strength of the economy. Markets had been expecting a fall of 0.4%.

"With retail sales, there may have been a lot of distortions due to the Olympics and the risks are to the downside... there is no sign the UK will bounce back strongly," said Paul Robson, currency strategist at RBS.

20 Sep, 2012


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Source: http://www.bbc.co.uk/news/business-19659806#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
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