A report looking at European shopper trends in Q3 2017 has found that retail sales in the UK through August broke all expectations, providing a boost for the Pound and growing well above the consensus forecast of 0.2%.
The report, commissioned by ShopperTrek, also found that Q3 store traffic was down by -2.3% with each month of July, August and September marginally down against the same period in 2016.
Despite the dip in traffic volumes, retail sales in July and August climbed by 1% with an equal rise in both value of sales and volume, with the survey indicating that consumers were not put off by having to spend more on goods.
Retailers across Europe did well to achieve an overall +0.5% uplift into stores and shopping centres. However, only two countries failed to see Year-on-Year growth in the quarter, the UK and Switzerland.
European Overall Q3: +0.5% YOY
Republic of Ireland: +0.2%