Shopping levels in August 2016 were up 6.2% on the same time as last year indicating that the vote to leave EU in June has not affect consumer confidence.
The Office for National Statistics noted ‘Regarding the EU referendum in late June, our data on retail sales since the vote show little evidence of a departure from recent trends’.
A sustained strong performance in retail means economists increasingly believe the UK’s GDP will keep growing in the third quarter. August 2016 represents the 40th consecutive month of annual sales growth.
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