UK retail sector experiencing positive growth this year
Retailers throughout the United Kingdom have had their fair share of difficulties over the past few years, as the global economic recession forced many merchants to cut back on staff, increase their prices and deal with lower sales. However, the tough times seem to be over, as the retail sector is currently seeing positive growth.
Retail Gazette reported that, according to the British Retail Consortium's (BRC) Bond Dickinson Retail Employment Monitor, the industry's employment situation significantly improved during this year's second quarter, as it grew 3.7 percent from the previous quarter. The source explained that this is the sixth consecutive quarter of employment growth for U.K. retailers, and analysts from the BRC stated that the increase is the best they've seen since 2009. This is indicative of further boosts in the coming months, the source detailed.
As for retail sales, British consumers seem to be visiting more stores and websites to purchase products. The Wall Street Journal reported that data from the Office of National Statistics showed that sales grew 0.9 percent during the second quarter from the first quarter. Economists anticipate these figures will keep increasing the rest of the year as economic recovery continues to occur.