British Retail Sales Recover in July

London Retail sales rose in July, recovering from the biggest monthly drop in 22 years in June.

On a monthly basis, retail sales grew by 0.8% in July from June, according to the Office for National Statistics (ONS).

On a 12-month basis, retail sales rose by 2.1% in July from the same month in 2007, the ONS added.

The readings beat market expectations for a monthly drop of 0.2% and an annual increase of 1.8%.