The heatwave and World Cup boosted consumer spending last month, giving the pound a much-needed lift.
Retail sales volumes rose 0.7% in the month, well above expectations for 0.2 per cent, according to the Office for National Statistics. The surprise improvement helped the pound to strengthen yesterday by 0.0038 cents to $1.2721, ending a 12-day losing streak, the worst in a decade.
The figures, which showed that sales volumes increased by 3.5% for the year, also raised hopes for growth. Wage and inflation data this week had pointed to a “softness” in the economy.
Click here for the full Times article (£)
Click here for the full Independent article
