Economic Indicators
U.K. Retail Sales Fall by 0.5% in May
2022.06.24 09:30
By Scott Kanowsky
Investing.com — U.K. retail sales volumes dropped by 0.5% in May, reversing course from a rise of 0.4% in the previous month, according to data from the Office for National Statistics.
The decline was mainly due to slowing food store sales, which fell by 1.6% during the month, a sign that inflation concerns may be taking a bite out of consumer demand.
However, the overall downturn in retail sales was less than expected. Analysts had estimated a fall of 0.7%.
