The sun shone on retailers this month, helping them to break out from the gloomy forecasts for consumer spending as inflation rises Jack Taylor/Getty ImagesSummer sunshine may be in short supply this week but warmer weather earlier this month has helped to lift retail sales in a welcome boost for the economy. The latest CBI distributive trades survey showed that retail sales growth hit a three-month high in July, exceeding expectations for minimal progress. The survey of 111 companies, of which 57 were retailers, showed that the volume of sales grew at a healthy pace, driven by grocery and clothing, while orders placed with suppliers rose at a solid rate for a second consecutive month. In a sign that fears of a deep consumer slowdown may be overstated, 48 per cent of the retailers polled said that sales volumes were up in July compared with a year ago, and…

Source: The Times July 27, 2017 23:48 UTC