The London Olympic Games failed to
boost spending in Britain as official statistics shows that retail
sales in August has dropped.
Retail sales dropped 0.2 percent in August in comparison with a 0.3 percent rise in the previous month, said the Office for National Statistics (ONS).
According to the ONS, the weak sales were blamed for the Olympic Games as more consumers went to watch sports instead of shopping.
However, compared with the same period of last year, retail sales increased by 2.7 percent.
The proportion of internet sales in the total sales fell by 0.9 percent in August compared with July, with the estimate average weekly spend online amounting to 466.1 million pounds.
Internet sales in August was estimated to account for 8.1 percent of all retail spending excluding automotive fuel, said the ONS.
The official figures on retail sales is similar to any early survey report released by the British Retail Consortium (BRC). It said retail sales values in Britain dropped 0.4 percent in August from the same period of last year.
Most Popular Stories
- World Bank: Rich Countries Must Curb Emissions
- Airport Garners Social Media Award
- Social Media Campaign Increases Organ Donor Registrations
- What Will Happen When Quantitative Easing Ends?
- Immigration Reform Would Decrease U.S. Budget Deficit
- MillerCoors Taps New Hispanic Ad Agency
- Aetna Leaving California's Individual Health Insurance Market
- Conference Slated for Hispanic Tech Startups
- Tea Party Wants to 'Audit the IRS'
- Calories Count: Starbucks to Post the Numbers on Menu Boards