TOP NEWS: UK Retail Sales Growth Tops Expectations In May

LONDON (Alliance News) - UK retail sales growth accelerated more than expected in May, figures ...

Alliance News 14 June, 2018 | 11:08AM
Email Form

LONDON (Alliance News) - UK retail sales growth accelerated more than expected in May, figures from the Office for National Statistics revealed Thursday.

Retail sales volume including auto fuel, grew 1.3% month-on-month, following April's 1.8% increase. This was the second consecutive rise in sales and much bigger than the expected 0.5%.

Sales excluding auto fuel, climbed 1.3% versus 1.4% increase a month ago. Sales were expected to gain 0.3%.

The ONS said feedback from retailers suggested that a sustained period of good weather and Royal Wedding celebrations encouraged spending in food and household goods stores in May.

Year-on-year, overall retail sales growth advanced to 3.9% in May from 1.4% in April. Sales were forecast to climb 2.4%.

Similarly, excluding auto fuel, retail sales increased 4.4% after expanding 1.4% a month ago. This was also faster than the expected 2.5%.

Copyright RTT News/dpa-AFX

Email Form
About Author Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.