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MNI BRIEF: UK Retail Sales To Lift Up Q2 GDP

MNI (London)
(MNI) London

UK retail sales poised to add 0.6pp to GDP growth in Q2.

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Retail sales jumped by 12.2% in the second quarter, the biggest rise since the third quarter of last year, leaving sale poised to add 0.6 percentage points to April-June gross domestic product. That's a significant turnaround from the second quarter, when sales volumes declined by a downwardly-revised 5.8% (originally reported aa -5.8%), shaving 0.3 percentage points from output.