ONS crisis deepens as it admits retail sales data issue; UK house prices ‘at record’ high – business live

Office for National Statistics says it miscalculated seasonally adjusted retail sales dataUK retail sales in July were lifted by the women’s European football tournament,The ONS reports that non-store retailers and clothing stores sales volumes grew strongly in July 2025.Retail sales is used to measure the output of the retail sector and part of household expenditure. It accounts for 4.8% of GDP.This means that the contribution of retail sales to GDP growth has been revised down from 0.06pp [percentage points] to 0.03pp in the first quarter and is unrevised to two decimal places in the second quarter.Despite the change in contribution, and all else being equal, GDP in Quarter 1 2025 would have been unchanged to 1 decimal place at 0.7%. Continue reading...

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