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...
- Lackluster demand outweighs tightness in Asian ABS markets
- Will costs drum up support for a 3rd-month-firming in Europe PET market?
- Import PE markets give softening signals in China, SE Asia
- PVC supplies tight, demand robust across Europe
- China’s local PP, PE markets snap nine-week rally
- Turnarounds keep PP supply tight in SE Asia
- European PP market sees step backs from initial July offers
- Focus turns to August in Turkey: PP and PE players sidelined amid blurry outlook
- SEA PE uptrend intact, yet increases capped by reduced demand
- Taiwanese major hikes Aug PVC offers to Asia as limited availability outweighs monsoon effect