Retail sales are bright as summer comes to a close
According to a recent report by KPMG, like-for-like UK retail sales increased by 1.3% in August 2017 when compared to August 2016. Non-food sales increased by 0.6% over the three months to August with consumers buying new items and clothing in preparation for the colder weather and the new school year.
August also saw a rise in consumer confidence according to GfK's Consumer Confidence Index, albeit still remaining negative overall. All five metrics on the Index saw increases, including in terms of consumers' personal finance and the general economic situation. Positive news on inflation figures and general growth prospects appears to have lifted consumers' spirits during the month.