UK retail sales meet expectations in August
The stronger retail sales in August were attributed to higher clothing sales, which climbed 2.3% from a month earlier on the back of increased demand for school uniforms. However, food sales slid 0.9% on the month in August. Auto fuel sales increased 1.3% following a 2.9% drop in prices.
Zero inflation and the strongest wage growth seen in more than six years have reportedly strengthened customers’ purchasing power. According to Bank of England Governor Mark Carney, the recent data on retail sales is the latest in a series of signals that the UK economy is improving and this may enable the country to increase interest rates from the current record lows in 2016.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Will PVC prices ever come back to the pre-pandemic levels?
- Global petchem companies’ profits surge in Q1
- Polymer demand takes a heavy knock from deepening COVID crisis in India
- Stats: Turkey’s polymer imports rise to fresh records in Q1
- HDPE set to reach a plateau in Europe, LDPE fares better
- Bearish PP trend takes no respite on lackluster demand in Turkey
- India import PVC market recedes from all-time high on COVID-hit demand
- Stats: China’s total PP, PE imports in Q1 mark lowest volume in a year
- Vietnamese PE buyers hold off purchases on fears of further price pullback
- European PS on brink of a softer trend after 6 months