UK retail sales volumes rose by 0.3% on a seasonally-adjusted basis in July, and the June increase was revised up from a paltry 0.1% to 0.8%, in figures published yesterday by the Office for National Statistics.
The data provided some relief amid the wider economic gloom, with the City having predicted a 0.1% fall in sales volumes last month.
The revision to the June numbers, raised hopes the 0.7% fall in UK gross domestic product (GDP) reported for the second quarter might be revised to a less steep decline of perhaps 0.4% or 0.5%.
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