U.K. Retail Sales Continue Rebound
August saw millions of Britons take advantage of government-subsidized meals under the Eat Out to Help Out program.
Photographer: Jason Alden/BloombergU.K. retail sales extended their recovery in August as a government initiative to boost the hospitality industry lured locked-down Britons out to the shops.
The volume of goods sold in stores and online rose 0.8% from July, the Office for National Statistics said Friday. It marked a fourth month of growth following an unprecedented slump in April, after the government ordered most stores to close to help fight the spread of coronavirus. Sales excluding auto fuel rose 0.6%, stronger than economists forecast.
The figures may boost hopes that consumer spending -– the engine of the British economy -- is bouncing back strongly. Sales volumes are now at record levels and 4% above their pre-pandemic levels. Non-essential stores were allowed to reopen in June.