New economic figures have bucked expectations with a surprise rise in retail sales, marking another sign of resilience amid widespread forecasts of decline. The latest data from the Office for National Statistics shows a 0.5% month-on-month increase in goods sold, outpacing predictions of a modest drop. Consumer spending on heatwave essentials—such as air conditioning units, fans, and sports equipment—appears to have driven the unexpected uptick. As the government prepares its upcoming budget, the figures offer a rare bright spot in an otherwise uncertain economic outlook.
Latest data to defy economic gloom shows 0.5% rise boosted by purchases of sports items, aircon units and fans during heatwavesBusiness live – latest updatesRetail sales across Great Britain unexpectedly rose last month, the latest economic indicator to defy gloomy forecasts as the chancellor, John Healey, prepares to present next month’s budget.The Office for National Statistics (ONS) said the volume of goods sold rose 0.5% month on month in August, defying analyst expectations of a 0.2% fall. Continue reading...
