Franchise sector witnesses growth in the month of July

Franchise sector in UK contributes a great deal to the UK economy. This fact has been further strengthened by the reports received from the Office for National Statistics. The newest reports from the Office for National Statistics, states that the sales in UK shops rose 0.4 percent in the month of July which is after it increased 1.2 percent in the month of June.

This is a heartening piece of news for everyone who is involved in retail. This news also brings a lot of hope for the economy and the job security of people involved in the field of franchising. Besides this, mortgage lending also continues to rise as confidence in the economy is increasing with every passing day. Gross lending for the month of July stood at £16 billion which is 26 percent higher than it was for the month of June. Mortgage lending, property prices and house sales, have all risen in the past few months after going through a particularly bad time due to banking crisis.

The Bank of England’s Monetary Policy Committee through the method of quantitative easing has pumped millions of pounds into the economy of UK in order to give it a boost.