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6/18, 8:00 AM (Source: TeleTrader)
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UK retail sales fall 1.4% in May

The quantity of goods bought in retail sales in the United Kingdom in May decreased 1.4% compared to the previous month, the Office for National Statistics reported on Friday. The figure was below analysts' expectations.

The largest negative contribution came from food stores where sales dropped by 5.7% on a monthly basis. However, retail sales were still up 9.1% from February 2020, before the coronavirus pandemic started. On an annual basis, retail sales surged 24.6% from May 2020.

Online sales fell 5.7% month on month but were up 2% year on year. Online sales as a proportion of all sales declined to 28.5%.

Breaking the News / NP