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Financial News: UK Retail Sales Fall More Than Forecast

UK Retail Sales Fall More Than Forecast

06/15/2017 - 04:46:00 (RTTNews)

(RTTNews) - UK retail sales declined more than expected in May, figures from the Office for National Statistics showed Thursday.

Retail sales volume including auto fuel declined 1.2 percent month-on-month in May, reversing a 2.5 percent rise in April. Sales were forecast to drop 0.8 percent.

Sales excluding auto fuel logged a monthly fall of 1.6 percent after expanding 2.2 percent in the previous month. Economists had forecast a moderate decrease of 1 percent.

On a yearly basis, retail sales volume growth eased sharply to 0.9 percent from 4.2 percent in April. A similar slower growth was last seen in January and also weaker than the expected 1.6 percent.

Excluding auto fuel, retail sales climbed 0.6 percent compared to 4.6 percent increase in April and forecast of 1.9 percent.

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