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UK retail sales volumes held up better than expected in May, according to government data on Friday, boosted by sunny weather.
The Office for National Statistics said retail sales fell 2.1% annually in May, easing from a downwardly revised fall of 3.4% in April. The market had been expecting a 2.6% fall for May, according to FXStreet-cited consensus.
April’s reading was previously reported as a 3.0% decline.
From the previous month, sales ticked up 0.3% in May, slowing from a 0.5% rise in April. However, the reading was better than market consensus, which had forecast a 0.2% decline.
Non-store retailing sales volumes rose 2.7% in May, after a 0.8% rise in April.
‘This was because of strong sales by online retailers selling outdoor-related goods and summer clothing. Feedback from retailers suggested that warm, sunny weather in the second half of the month helped boost sales,’ ONS said.
Food store sales volumes fell 0.5% in the month, with the ONS noting ‘some anecdotal evidence of increased spending on takeaways and fast food’ on account of the extra bank holiday.
‘However, retailers also indicated that increased cost of living and food prices continued to affect sales volumes,’ the ONS added.
Excluding fuel, sales fell 1.7% annually in May, compared to a downwardly-revised fall of 3.0% in April. On a monthly basis, non-fuel sales edged up 0.1% in May, slowing from a 0.7% rise in April from March.
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