Retail sales data, June 2016 - PwC comments

Published at 10:17 AM on 16 June 2016

In response to the latest retail sales data, John Hawksworth, chief economist at PwC, commented:

“After a soft patch in February and March, retail sales volumes bounced back strongly in April and May. UK consumers, buoyed by the strong fundamentals of jobs growth and rising real earnings, seem so far to have largely shrugged off the effects of uncertainty related to the EU referendum. This effect seems so far to have weighed more heavily on business investment than on consumer spending.

“Average retail prices actually rose slightly between April and May, but the underlying trend over the past year has still been for an average price fall of around 3%. This reflects severe price competition on the high street and online, as well as generally subdued global commodity prices. It remains a Darwinian struggle for survival for many high street retailers, with long-established brands under constant pressure to adapt or perish.”


For further information please contact Tilly Parke: [email protected] / +44 20 7804 8761


About PwC

At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 208,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at

PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see for further details. © 2016 PwC. All rights reserved

« Optimism wanes among financial services firms for second consecutive quarter – CBI/PwC | Homepage | UK implementation of EU audit legislation – PwC response »

  • Contact us
  • +44 (0) 20 7213 1768

Specific and out of hours contacts