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U.K. retail sales see surprise rise in July, while consumer confidence plunges

·2 min read
U.K. retail sales see surprise rise in July, while consumer confidence plunges

U.K. retail sales rose modestly in July, surprising economists who were expecting a drop, while separately a survey showed plummeting consumer confidence. Retail sales volumes rose by 0.3% in July 2022 following a fall of 0.2% in June 2022 —- revised from a fall of 0.1%, the Office for National Statistics reported on Friday. Economists polled by FactSet Research were forecasting monthly sales to drop 0.1%.