Olympic verdict

According to the latest BRC-KPMG Retail Sales Monitor the Olympics dicouraged consumer spending in August. UK retail sales fell by 0.4% on a like-for-like basis, compared to the same time last year. Total sales were up by 1.6%, compared to a 1.5% rise in August 2011. Internet sales fared better, though, with 4.8% growth on last year. August is hardly a great month for retail in any year, but the Olympics discouraged shopping more than usual, with women’s clothing, furniture, flooring and home related items worst hit.