(Correcting UK annual retail sales growth for April.)
UK retail sales declined by more than expected in May, the Office for National Statistics reported on Friday.
UK retail sales fell by 2.7% in May from April. This was against a 1.3% rise in April from March and worse than the 0.5% decrease expected by FXStreet-cited market consensus.
On an annual basis, retail sales decreased by 1.3% in May, swinging from 5% growth in April. Market consensus had expected a 1.7% increase.
Excluding fuel, sales decreased by 2.8% on-month, worse than consensus for a 0.5% decrease and swinging from April’s 1.4% growth. They fell 1.3% on a year before, compared to April’s 5.2% rise and FXStreet-cited consensus of a 1.8% increase.
Separately, the ONS reported that the UK public sector net borrowing requirement was £17.69 billion in May, against £20.05 billion in April.
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