Deloitte comments on latest ONS retail sales data
15 August 2013
Commenting on today’s ONS retail sales figures, Ian Geddes, UK head of retail at Deloitte, said: “Today’s strong statistics provide further evidence that the UK economy has reached a turning point with sales growing at their fastest rate for more than two and a half years. Last month’s good weather brought consumers out onto the high street and drove sales of seasonal goods. Following a difficult spring, this bounce back will provide welcome relief to a sector that has been particularly badly hit over the past five years.
“The recovery is building momentum. This is the third consecutive month-on-month rise and while we do not expect a return to pre-recession levels of consumer spending growth, there are increasing signs that purse strings are just beginning to loosen. This positivity needs to be tempered slightly due to the weak comparable figure from last year but coupled with positive news from elsewhere in the economy, retailers will begin to take some confidence that this recovery can be sustained through the rest of the year.”
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