UK Retails Sales figures – Andy Lyon from PwC in the Midlands comments
In response to today’s UK Retail Sales figures, Andy Lyon, Retail & Consumer Partner at PwC in the Midlands, commented:
“Despite early signs of a weaker August for retailers, driven by the warm weather, we have seen yet another set of surprisingly strong retail sales figures. Consumers have shown little signs of slowing down their spending amongst a backdrop of economic and political unease.
“Many U.K. retailers will now be shifting their focus towards the Christmas period after facing some intense cost pressures mainly due to a weaker pound and foreign exchange rates against the U.S. Dollar which have also impacted purchases from the Far East. Whilst there is no clear picture at this stage as to what consumer spending levels will reach during the festive season, we still expect a fairly steady level of trading.
“So far it is clear to see that consumer confidence has been very resilient against any uncertainty following the outcome of the EU Referendum results.”