Retail Figures In July Have Smashed Brexit Forecasts

Retail Figures In July Have Smashed Brexit Forecasts image

July has seen soaring retail figures which has completely gone against the grain of the Brexit uncertainty.

The figures have in fact jumped 1.4% above expected forecasts and 6% up year on year.

So what does it tell us? Clearly consumers are unphased by the Brexit vote and happy to spend on the high street and online.

The weather has also played a part, finally warm weather has helped retailers push summer clothing lines.

The cheap pound has helped tourism with many overseas visitors hitting UK shores to take advantage of the current currency weakness.

Kingfisher who own B&Q told their shareholders “There has been no clear evidence of an impact on demand so far on our businesses.”

The true impact of Brexit will still be set in future months however this report is very positive, not at all expected and great news for British businesses concerned over the European opt out vote.

So it really seems as if it’s business as usual for retailers up and down the country with new forecasts expecting the economy to grow in this Q3 quarter.

Retail Department stores and specialist retailers such as jewellers are among the businesses reporting a great month so far.

Keep up to date
Subscribe to get business news and tips direct to your inbox.

Thank you!

NACFB Members
BMCAA Members
FSB Members
Cyber Essentials Accredited