British retail sales unexpectedly edged up in July, helped by the strongest grow...
LONDON - British retail sales unexpectedly edged up in July, helped by the strongest growth in online spending in three years, as consumers continued to support the economy before the Oct. 31 Brexit deadline.
Compared with July 2018, sales were up 3.3%, slowing from 3.8% in June but at the top end of forecasts. That has aided the world’s fifth-biggest economy at a time when many companies have cut investment because of growing uncertainty about Brexit. “They will continue to be mindful of the looming Brexit threat and potential impact on their international supply chains, with possible cost increases and price rises on the horizon.”
Online sales jumped 6.9% on the month, their biggest rise in volume since May 2016. Amazon held its annual “Prime Day” sales promotion last month, a major driver of sales for the company.
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