Scotland business

Scottish retail sales rise after Brexit vote

Shopping trolley Image copyright Thinkstock
Image caption Experts said supermarkets were the biggest winners over the quarter in terms of sales volumes

Scotland experienced slightly better retail sales growth than Great Britain as a whole in the three months after the Brexit vote.

Official figures showed that the value of sales increased by 2.1% between July and September - slightly above the 2% growth recorded in Britain.

The volume of sales also rose by 2.1% north of the border, compared with 1.8% in Britain.

The amount of goods sold in Scotland was 4.9% up on the same period of 2015.

However, Britain as a whole achieved growth of 5.4% over the year.

It was a similar picture for the value of sales, which grew year-on-year in Scotland by 3.2%. Equivalent British growth was 3.7%.

The Scottish Retail Index figures were released by Scotland's chief statistician.

'Broadly positive'

Euan Murray, of Barclays Corporate Banking in Scotland, said the third quarter of 2016 had been "a broadly positive period in the retail space with food and non-food categories both feeling the benefits".

He added: "Consumer confidence appeared to grow despite the result of the EU referendum, which it was feared would dampen spending.

"The supermarkets were the biggest winners over the quarter with sales volumes on the up.

"We will be watching the sector with interest as the inevitable post-Brexit price rises from retailers gradually trickle down to the consumer."

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