Good weather in June is being cited as the reason for a two year high in UK retail sales.

British retail sales soared in June to deliver their strongest growth in two two years. The British Retail Consortium reported that spending was up 2.9%. This would indicate the best trading month since January 2014*.

Sale’s on similar items in comparable environments and floor spaces were up 1.8%. This indicates great progress. With Summer just beginning and the School Holidays about to begin, it is estimated that the economy will be stimulated even more.

It is also expected that the recent Budget will encourage more people to spend money due to the movement of the lowest tax band.

 

*This data has been modified. Easter has been removed due to the way the Holiday moves to give a more accurate result.