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Summer spending increase as heat wave and football attract customers

Many retailers have been enjoying sales growth throughout the first half of the month, the CBI reports. Food and drink retailers have benefited from more people taking advantage of the sun and watching the World Cup at pubs and bars. Electrical goods retailers have also experienced sales growth with football inspiring many consumers to buy flat screen televisions to watch the tournament on. The report shows mixed results though, as D.I.Y, furniture and carpet stores suffered a decline in business as more people spent time outside. As a result, when compared to last summer, 44% of retailers said that their sales were up, and 37% reported theirs were down. With the World Cup euphoria now over and with further speculation about possible interest rates increases, experts are predicting a slower August. Richard Lambert, CBI Director – General said: “Retailers have had an encouraging four months of consecutive growth and it is pleasing that despite England’s quarter final exit, the World Cup continued to boost the high street over the first half of July.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .