Retail sales figures point to moderate pace of economic growth, says BCC

22nd July 2013

· Retail sales volumes for June 2013: up 0.

2% on the month, up 2.2% on the year Commenting on the retail sales figures for June 2013, published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC) said: -While retail sales figures are often volatile, this slight increase confirms that the economy is improving, albeit at a modest pace. The main source of the recent increases seen throughout the year was in department stores, but the sector is also undergoing structural changes with online sales particularly strong. -The rise in inflation is a cause for concern, and it must be kept low so that retail sales and other areas of domestic demand continue growing. However the government can also play its part by prioritising measures to boost growth while continuing with its austerity plan.