UK Retail Sales Unexpectedly Fall in May
Retail sales in the UK declined by 1.4% from a month earlier in May, following a 9.2% increase in April and missing market expectations of a 1.6% advance. Receipts at food stores and non-store retailers fell sharply following the easing of restrictions for hospitality and non-essential retail. Still, total retail sales were up 9.1% when compared with their pre-pandemic February 2020 levels.
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