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UK retailers post slower growth in Q2

UK retailers post slower growth in Q2

Mubasher: Retailers in the UK saw a slower sales growth in the second quarter of this year, the Office for National Statistics (ONS) said on Thursday.

UK retail sales rose by 0.7% in the three-month period ended June, which marked a slowdown from a stronger increase of 1.6% in the prior period ended May.

Growth was seen across all segments except for food stores and department stores           .

The quantity bought from retailers last June alone grew by 1%, driven mostly by non-food sales growth, the ONS said.

In addition, retail sales climbed by 3.8% year-on-year last month, compared with the annual growth of 2.2% seen in May.

June’s growth was driven by increases in all sectors except for department stores.

“Online sales as a proportion of all retailing fell to 18.9% in June, from the 19.3% reported in May,” the ONS said.

By 8:42 am GMT, the GBP/USD pair climbed by 0.38% to $1.2480, while the EUR/GBP pair fell by 0.25% to GBP 0.9005.