Retail sales decline despite World Cup boost

UK retail sales declined by 0.5% in July after a strong previous month, with non-food sales dropping as promotions were moved earlier due to hot weather. Despite this, consumer confidence rose to a two-year high, supported by hot weather, promotions, and the World Cup, although rising energy bills and geopolitical tensions pose ongoing challenges. Economic data also shows a larger-than-expected public deficit, highlighting fiscal pressures ahead of the upcoming budget.

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