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June Retail Growth the highest so far this year

In June the underlying rate of growth in retail sales volumes was the highest so far this year, while annual growth remained the lowest for more than six years, according to data out today from the Office for National Statistics.

The volume of retail sales in the three months April to June 2005 was 0.7 per cent higher than in the previous three months, the highest such growth since November 2004. This follows growth of 0.3 per cent in the three months

to May and compares with growth of 2.0 per cent at the same time in 2004.

Compared with the same period a year ago, sales in the three months to June 2005 were up 1.6 per cent, the lowest annual growth since February 1999.

Analysis of monthly figures shows that the total sales volume grew by 1.3 per cent between May and June, the highest single month growth since December 2003. This follows zero growth last month and 0.5 per cent in April. According
to retailers the growth in June was driven by some department stores moving summer sales from July to June, a pick-up in sales of summer fashions and strong sales of sportswear. The total volume of sales in June was 1.6 per cent higher than in June 2004.

 
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