British retail sales rise in August after falling in July

The Office for National Statistics said that retail sales in Britain rose by 0.4% in August after falling by 1.1% in July, marking the sixth month so far in 2023 in which sales volumes rose, indicating resilience in consumer demand.

The Office of National Statistics stated that the volume of retail sales declined on an annual basis by 1.4% in August compared to the same period last year, which is the smallest decline since March 2022.

Other data showed that the GfK consumer confidence index in Britain rose for the second month in a row to -21 in September from -25 in August, which is the highest level since January of last year, as consumers became more optimistic about the economy with the decline in inflation and wage growth.

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