Retail sales fall despite World Cup and hot weather boosting alcohol and drinks trade – business live

Rolling coverage of the latest events in global financial markets, the economy and major corporate moves French business activity contracted more than forecast in August, new data shows, in the first of several flash economic surveys this morning.

A poll of purchasing managers by S&P Global found that heatwaves dealt a blow to the country’s services sector, which is the dominant part of its economy.

Retail was not a World Cup winner, with many opting to cheer on England from the pub and prioritising their summer getaway, boosting hospitality and travel rather than retail sales.” For half the month England were in the knockout stages of the World Cup.

In a football-mad nation, that always helps to support sales, particularly for retailers of food and drink and clothing.” Continue reading...