UK shoppers keep on spending as August retail sales smash forecasts [Reuters (UK)]
TESCO PLC S/ADR (TSCDY)
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Source: Reuters
UK shoppers keep on spending as August retail sales smash forecasts | Reuters 3 Min Read LONDON (Reuters) - British shoppers kept up their strong summer spending spree in August and showed no sign that the approach of Brexit is making them cautious, official data showed on Thursday. In another sign that the country’s overall economy is on track for solid growth in the third quarter of 2018, retail sales jumped by 3.3 percent compared with August last year, stronger than all forecasts in a Reuters poll of economists. That was slightly slower than an upwardly revised 3.8 percent leap in July but that jump was widely seen as a response to the soccer World Cup and soaring summer temperatures. In monthly terms, sales rose by 0.3 percent in August from July, the Office for National Statistics said, defying the median forecast in the Reuters poll for a fall of 0.2 percent. Looking at the three months to August as a whole, which smoothes out some monthly volatility, growth in sales slowed to
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