Financial News: UK Retail Sales Recover In May- CBI

UK Retail Sales Recover In May- CBI

05/28/2024 - 09:10:00 (RTTNews)

(RTTNews) - UK retail sales recovered in May and selling price inflation continued to ease, survey results from the Confederation of British Industry showed Tuesday.

The retail sales balance fell to +8 percent from -44 percent in April, latest Distributive Trades Survey results revealed.

At the same time, selling price inflation weakened in May with the balance easing to 20 percent from 54 percent in February. This was the lowest since August 2020.

A net 4 percent retailer expects sales volumes to fall next month.

CBI lead economist Alpesh Paleja said easing inflation and continuing real wage growth will contribute to a healthier consumer outlook, in turn supporting the retail sector further.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Atlanta Fed Sees U.S. Q3 GDP Growth At 2.8% (07 hr(s), 48 min(s), 47 sec(s) ago)
(RTTNews) - The Atlanta Fed released its initial estimate for the third quarter growth based on it ...Full Story»

U.S. Consumer Sentiment Index Dips Slightly Less Than Previously Estimated In July (09 hr(s), 39 min(s), 47 sec(s) ago)
(RTTNews) - The University of Michigan released revised data on Friday showing consumer sentiment ...Full Story»

U.S. Consumer Prices Inch Up 0.1% In June, In Line With Estimates (10 hr(s), 36 min(s), 47 sec(s) ago)
(RTTNews) - Consumer prices in the U.S. crept up in line with economist estimates in the month of ...Full Story»

Spain Jobless Rate Lowest Since 2008 (10 hr(s), 50 min(s), 47 sec(s) ago)
(RTTNews) - Spain's unemployment rate fell to the lowest level in nearly 16 years in the secon ...Full Story»

Denmark Retail Sales Fall 0.1% (10 hr(s), 58 min(s), 47 sec(s) ago)
(RTTNews) - Danish retail sales decreased slightly in June after recovering in the previous month, ...Full Story»

Hungary Jobless Rate Falls To 4.3% (11 hr(s), 14 min(s), 47 sec(s) ago)
(RTTNews) - Hungary's unemployment rate decreased slightly during the April-June period, data ...Full Story»

U.S. PCE Price Index Inches Higher In June, Annual Growth Slows To 2.5% (11 hr(s), 23 min(s), 47 sec(s) ago)
(RTTNews) - Consumer prices in the U.S. crept up in line with economist estimates in the month of ...Full Story»

Russia Central Bank Hikes Rate By 200 Bps (11 hr(s), 36 min(s), 47 sec(s) ago)
(RTTNews) - Russia's central bank raised its benchmark rate by 200 basis points on Friday amid ...Full Story»