6/14/2018, 10:34 AM (Source: TeleTrader)
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Annual retail sales growth in UK accelerates to 3.9%

Nonstore retailing underpinned British retailers' turnover in May, the Office for National Statistics said on Thursday, attributing the rise in sales to the royal wedding and the Football Association Challenge Cup final, but also favorable weather. The quantity increased 1.3% last month, though the rate came in half a percentage point lower than in April, for which the initial figure was revised from 1.6%.

Annual growth was 3.9%, the strongest since April 2017, after only 1.4% in the previous month, the report said. Statisticians noted as a comparison that last May saw growth of only 0.8%.

Food, department and clothing boosted the nonstore sector, as the shift to online shopping continues. The core readings, which exclude automotive fuels, showed monthly growth of 1.3% and 4.4% on an annual scale, compared to 1.4% for both items in April after slight revisions up and down, respectively.

Breaking the News / IT