July sports gear retail sales see significant increase

August 24th, 2010    Posted in sports gear

The retail sales of sports gear in United Kingdom saw a significant increase in July as economists saw a trend where shoppers spent more on watches and sports gear. Sales rose by 1.1 percent compared from June, according to the Office for National Statistics data that was released this week in London. Financial analysts predicted only a 0.3 percent increase. For the year to date, sales have risen by 1.3 percent.

The Bank of England made a forecast last week that consumer spending will continue growing at a modest rate in the coming quarters. Economists believe that consumers are still enjoying the low interest rates and that they are optimistic that the economy will soon pick up now that the government is working on a stimulus package or deal.

Increase on sports gear sales were believed to have been attributed to the recently concluded World Cup football tournament in which Spain won.