The Live Wire



Press Release

RSM JULY 2005 - MORE RATE CUTS NEEDED FOLLOWING WORST JULY IN 10 YEARS

9 August 2005

Retail sales in the UK in July fell 1.9% on a like-for-like basis, and rose by 2.0% on a total basis, compared with a year ago.

The three-month trend rate of growth rose in July to -1.7% from -2.4% in June for like-for-like sales, and to 2.3% from 1.1% for total sales.

July was much worse than June, hit by cooler wetter weather. Some good clothing sales on the few warmer days failed to offset difficult trade elsewhere.

Consumers remain cautious and reluctant to commit to large purchases: furniture, floor coverings and large electricals continue to suffer.



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British Retail Consortium

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