Woman at a Jewelry Store

BREXIT WHO? JEWELRY AND WATCH SALES IN BRITAIN JUMP 17% IN JULY

Figures from the Office for National Statistics showed that jewelry and watch retailers recorded a 17% jump in sales in July, IDEX Online reports. Overall, retail sales jumped close to 6% last month on July last year, and rose 1.4% on June.

 

The UK vote in June to leave the European Union led to fears that the economy would suffer severe damage, with consumer spending and investment expected to drop sharply.

 

The rise in sales, however, is unlikely to be due entirely to UK consumers. Analysts believe it is more likely a result of the good weather last month, coupled with foreign tourists taking advantage of the weak pound to buy in Britain. The British pound has touched its lowest-ever figures against the US dollar and the euro in the aftermath of Brexit.

Other articles on the category

The branch news