Samuel Tombs, chief UK economist at Pantheon Macroeconomics, has looked at the outlook for UK retail sales and strikes a pessimistic note. Retail sales probably will fall back over the coming months. The temporary boost to food spending from Euro 2020 will fade, while higher confidence does not appear to be translating to higher levels of economic activity, due to the recent rise in Covid-19 cases.
UK retail sales rise in July, helped by Euro 2020 food and drink spending – business live
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Retail sales rise 0.5% in June, as markets await flash readings on key industry surveys for Europe and the US