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British consumers defy forecasts, up their shopping again
LONDON: British consumers unexpectedly increased their shopping in August, although they cut fuel purchases after prices jumped following the resumption of the Iran war, official figures showed on Friday. Retail sales volumes rose 0.5percent from July, defying economists’ forecasts in a Reuters poll for a 0.2percent decline and adding to signs of resilience in Britain’s economy despite uncertainty linked to the Gulf conflict. The increase reversed a 0.5 percent fall in July. Sales volumes had also risen in the previous two months, helped by sunny weather and the start of the men’s soccer World...
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