Non-food stores sales decline amidst heatwave impact on travel
- Retail sales volumes rose by 0.3% in July 2022 compared to June 2022
- Non-store retailing saw a 4.8% increase in July due to promotions
- Automotive fuel sales fell by 0.9% due to heatwave impact on travel
- Non-food stores sales volumes declined by 0.7%
- Food store sales increased by 0.1%, still below pre-pandemic levels
- Online retail sales rose to 26.3% in July from 25.3% in June
- Longer-term trend shows downward trajectory since summer 2021
- Consumers cutting back on clothing and household goods due to price concerns
Retail sales volumes increased by 0.3% in July 2022 compared to June 2022, according to the Office for National Statistics (ONS). Non-store retailing experienced a 4.8% rise due to promotions, but automotive fuel sales fell by 0.9% due to reduced travel during the heatwave. Non-food stores sales volumes dropped by 0.7%, while food store sales increased by 0.1%. Online retail sales reached 26.3%, up from 25.3% in June, but still below pre-pandemic levels. ONS director of economic statistics, Darren Morgan, noted that although online sales were boosted by promotions, fuel sales declined due to reduced travel during the heatwave. Consumers continue to cut back on clothing and household goods amidst price concerns.
Factuality Level: 9
Factuality Justification: The article provides accurate information from a reliable source (ONS), presents data in a clear manner, and includes relevant context and expert commentary.
Noise Level: 3
Noise Justification: The article provides relevant information about retail sales volumes and trends in the UK market, including specific categories such as automotive fuel, non-food stores, clothing stores, and food stores. It also includes insights from the Office for National Statistics (ONS) and comments from their director of economic statistics. However, it could benefit from more analysis or context on why these trends are occurring and how they may impact consumers and businesses in the future.
Financial Relevance: Yes
Financial Markets Impacted: Retail sector
Financial Rating Justification: The article discusses changes in retail sales volumes, which can impact the financial performance of companies within the retail sector and may affect stock prices.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the article, but the retail sales data shows a slight upward trend with some fluctuations in specific categories.
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