Economic Buzz: UK retail sales fall 2.7% in May

UK retail sales declined more than expected in May on weak food store sales, data from the Office for National Statistics showed Friday.

Retail sales fell 2.7 percent on a monthly basis in May, in contrast to the revised 1.3 percent increase in April.

Following a strong growth of 4.7 percent in April due to good weather, sales posted a monthly fall of 5 percent. Non-food store sales were down 1.4 percent.

Excluding auto fuel, retail sales slid 2.8 percent month-on-month, reversing a 1.4 percent rise in April and was also sharper than the expected drop of 0.5 percent.

On a yearly basis, retail sales decreased 1.3 percent, following a 5.0 percent rise in April. Sales volume, excluding auto fuel, also declined 1.3 percent in May, after rising 5.2 percent a month ago.

Powered by Commodity Insights