British retail sales dropped all of a sudden in May after a sharp development in April when retail limitations were reduced, information from the Office for National Statistics (ONS exposed on Friday.
Retail sales dropped 1.4 percent month-on-month in May, reversing a 9.2-per-cent increase in April and puzzling expectations for a boost of 1.6 percent.
Excluding car fuel, retail sales dropped 2.1 percent after increasing 9.1 percent in the previous month. Sales were anticipated to climb up 1.5 percent.
On an annual basis, the retail sales volume development moderated to 24.6 percent in May from 42.4 percent a month earlier. This was likewise slower than the anticipated growth of 29 percent.
Sales, omitting car fuel, logged a yearly development of 21.7 percent versus 37.7-per-cent growth seen in April and economic experts’ projection of 27.3 percent.