Retail sales in central London in July were 6.2% higher than a year earlier than in July 2007, according to the British Retail Consortium and KPMG. This is far weaker than the 12.9% annual growth recorded in July 2007 but stronger than the 0.9% decline recorded for July 2008 across the whole of the UK.

As usual, overseas visitors contributed to sales increases with the strong euro continuing to attract Western Europeans.
However, many retail sectors are suffering in the current economic climate. Sales of ‘discretionary’ items such as clothing and footwear and homewares suffered in July.

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