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Markets

London Olympics fail to boost British official retail sales

Published Updated

british-flagLONDON: British retailers failed to win a major boost from the London Olympic Games, official data showed on Thursday, with online sales slumping despite Britons staying at home to watch the sporting spectacle.

Sales volumes fell 0.2 percent in August compared with July, the Office for National Statistics (ONS) said in a statement. That tallied with market expectations, according to analysts polled by Dow Jones Newswires.

The ONS added that sales in August grew 2.7 percent compared with the same period a year earlier. That was less than forecasts for a 2.9-percent gain.

However, non-store retail sales -- which is mostly online business but also includes mail order -- tumbled by 6.7 percent in August. That was the biggest monthly drop since December 2007.

"Feedback from online retailers suggests that sales were lower as consumers watched the Olympics instead of shopping online," the ONS added in the statement.

The London Games took place for a little over two weeks covering mostly the first half of August. The Paralympics, which were held also in London, occurred between August 29 and September 9.

Copyright AFP (Agence France-Presse), 2012

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