Hello User
Sign in
Hello
Sign Out
Subscribe
Next Story
Business News/ Economy / UK retail sales fell in May as spending broadened

UK retail sales fell in May as spending broadened

  • The drop marks a clear slowdown from April’s 9.2% monthly gain amid the reopening of non-essential retail shops that month. In May, indoor dining and other services which aren’t included in the retail sales figures were able to reopen in England, likely prompting a shift in consumer spending

The drop marks a clear slowdown from April’s 9.2% monthly gain amid the reopening of non-essential retail shops that month

Retail sales in the U.K. fell in May after increasing sharply the previous month as the further easing of restrictions across the country gave consumers more opportunities to spend aside from goods.

Retail sales in the U.K. fell in May after increasing sharply the previous month as the further easing of restrictions across the country gave consumers more opportunities to spend aside from goods.

Sales fell 1.4% on the month, the Office for National Statistics said Friday, driven by decreases at food stores. Economists polled by The Wall Street Journal expected retail sales to increase 1.6%.

Hi! You’re reading a premium article! Subscribe now to continue reading.

Subscribe now
Already subscribed?

Premium benefits

  • 35+ Premium articles every day
  • Specially curated Newsletters every day
  • Access to 15+ Print edition articles every day
  • Subscriber only webinar by specialist journalists
  • E Paper, Archives, select The Wall Street Journal & The Economist articles
  • Access to Subscriber only specials : Infographics I Podcasts

Unlock 35+ well researched
premium articles every day

Access to global insights with
100+ exclusive articles from
international publications

Get complimentary access to
3+ investment based apps

TRENDLYNE Get One Month GuruQ plan at Rs 1
FINOLOGY Free finology subscription for 1 month.
SMALLCASE 20% off on all smallcases

5+ subscriber only newsletters
specially curated by the experts

Free access to e-paper and
WhatsApp updates

Sales fell 1.4% on the month, the Office for National Statistics said Friday, driven by decreases at food stores. Economists polled by The Wall Street Journal expected retail sales to increase 1.6%.

The drop marks a clear slowdown from April’s 9.2% monthly gain amid the reopening of non-essential retail shops that month. In May, indoor dining and other services which aren’t included in the retail sales figures were able to reopen in England, likely prompting a shift in consumer spending.

“Anecdotal evidence suggests the easing of hospitality restrictions had an impact on sales as people returned to eating and drinking at locations such as restaurants and bars," the ONS said.

Retail sales in May were 24.6% higher than a year earlier, a sharp increase boosted by low base effects. Still, the overall level of sales was 9.1% above February’s 2020 pre-pandemic levels.

The U.K. economy expanded 2.3% on-month in April, its fastest monthly pace since July 2020, as public-health restrictions eased. Economists expect the rebound to have extended into May.

(This story has been published from a wire agency feed without modifications to the text.)

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.