Retail sales defied analysts' forecasts in May to increase 0.6%, as consumer spending was boosted by the World Cup.
The ONS said household goods stores increased their sales volumes by 1.7%, driven by a strong showing for electrical stores prior to the start of the World Cup. However, non-food stores as a whole remained static. Food stores increased their volumes by 1.2% while non-store retailing increased 1.8%. Year on year, retail sales were 2.2% higher, with food stores posting a decrease of 0.5% while non-food stores increased 5.4%. Within predominantly non-food stores there were rises across all sectors, the largest being non-specialised stores at 9.4% and textile, clothing and footwear outlet...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes