Unexpected rise in high street sales

By Myra Butterworth, Personal Finance Correspondent Sales on the high street showed a surprise increase last month as hard-pressed shoppers bought goods to entertain themselves at home. Figures from the Office for National Statistics (ONS) were expected to show a fall in sales as consumers reined in their spending. But the credit crisis is leading people to spend their money on cheaper entertainment options such as new televisions and computer games rather than expensive cars or holidays. Brtions are also thought to be eating at home more often, instead of dining out. The ONS said that sales in July were 0.8 per cent higher than the previous month. The increase is in sharp contrast to the 3.9 per cent fall reported in June. By far the biggest contribution to July's rise was a 2.8 per cent rise for "other stores", which... [read full story]