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ONS retail sales data highlights resilience of UK consumers

The year-on-year growth in UK retail sales in August, as reported (20 Sep) by the Office for National Statistics (ONS), came in at a surprisingly strong 2.4% despite a backcloth of rising inflation and falling real wages.

Well ahead of expectations, the data shows the UK consumer is still very much alive and kicking and lessened fears of an economic slowdown.

Sales grew 1% from July, against expectations for a muted 0.2% rise. Increased spending in non-food shops like department stores and DIY shops were behind the dramatic improvement.

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