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U.K. Retailers Report Slowdown as Post-Lockdown Rebound Fades
- BRC said July produced the weakest growth in five months
- Barclaycard sees shift in spending toward entertainment, pubs
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U.K. retailers reported their slowest sales growth in five months during July as consumers shifted toward spending on entertainment and social gatherings and away from in-store shopping.
The volume of goods sold in shops and online grew 6.4% in July compared to last year, the British Retail Consortium and KPMG said. A separate survey from Barclaycard, which handles almost half the credit and debt card payments in the U.K., showed more money going into bars, theaters and sporting events and a drop in face-to-face retail.