UK retail sales volumes contracted by 0.5% month-on-month in July, aligning with market consensus, following a revised 0.7% expansion in June. Year-on-year sales growth moderated sharply to 1.6% from a revised 3.8% in June, underperforming expectations for a 2.2% increase. Despite the monthly contraction, the broader three-month trend remains positive with sales volumes expanding 1.1%, signaling underlying consumer stamina.
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