Olympics 'boosts consumer spending in UK'

2 September 2008

The near-unprecedented success of British athletes at this year's Olympic Games has led to a big boost in consumer spending, new statistics have revealed.

According to credit firm Experian's latest national retail footfall index, a rise in shoppers of 3.9 per cent was marked from July to August, with retail activity also up 0.4 per cent year on year.

This strong performance is thought to reflect that of the UK Olympic team at the sporting event, held in Beijing, China last month.

The British team took home a higher-than-expected 47 medals, of which 19 were gold - putting it in fourth place on the table behind the host nation, the US and Russia.

Bicycles and sports clothes saw particular boosts, unsurprising as eight of the UK's gold medals were won by cyclists.

In an emailed statement, Matthew Sherwood at Experian commented: "The data provides a surprising glimmer of hope in an otherwise dismal picture for retailers.

He added: "Retailers are still reporting that this summer has been dismal, and it is hard to see how they are going to escape even further troubles in the months ahead."

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