By Marcus Leach
The steady stream of positive industry figures, all pointing to a sustained economic recovery, continued today (Thursday), with news that retail sales jumped 1.1% in July.
Official figures released by the Office for National Statistics (ONS) confirms the rise, which is even more impressive in comparison to June's rather modest 0.2% growth.
The positive sentiment on the high street has added to indications that the UK's economy is recovering.
“The recent good news for retailers continues, with July posting the third consecutive month of positive figures. However, the picture on the ground remains mixed, with many high streets and companies still struggling," Peter Saville, partner at Zolfo Cooper, said.
"In contrast to the positive economic indicators, earnings, unemployment and interest rates remain unchanged — as does the squeeze on consumer spending. With summer beginning to wind down, retailers need to work towards a sustainable recovery by overhauling their business models, product offering and customer experience.”
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