RETAIL SALES UNEXPECTEDLY RISE
Volume of sales rose 0.2% from April
UK retail sales unexpectedly picked up in May said the Office for National Statistics this week,
The volume of sales rose 0.2 percent from April. Economists in a Bloomberg survey had forecast a 0.1 percent decline.
Sales increased 4.6 percent on the year. This was the 26th consecutive month of year-on-year growth, the longest period of sustained growth since May 2008 when there were 31 periods of growth. The ONS said the underlying pattern in the data, as suggested by the 3 month on 3 month movement in the quantity bought, continued to show growth for the 27th consecutive month, increasing by 0.6%. This is the longest period of sustained growth since consistent records began in June 1996.
The ONS said there was growth in predominantly "food stores, other non-food stores, household goods stores and petrol stations".
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