Retail sales in the United Kingdom surprisingly increased in July, but consumer confidence plunged to a record low as the country approached recession, according to figures released on Friday.
According to statistics from the Kingdom’s National Statistics Office, sales volume increased by 0.3 percent last month after a minor fall in June 2022, after analysts agreed on another decline.
According to Darren Morgan, the bureau’s head of economic statistics, internet transactions increased due to a variety of offers and promotions.
However, gasoline sales have decreased, with some data indicating that the hot weather has led to a decrease in passenger numbers, he continued.
Morgan noted that consumers are saving owing to increased prices and worries about affordability and the expense of living.
Separate statistics released on Friday revealed that consumer confidence in the United Kingdom is at an all-time low.
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