May retail sales looked promising
Warm weather helped accelerate retail sales in May, following two months of flatlining.
According to the latest figures from the British Retail Consortium-KPMG survey, total retail spending increased by 1.4% compared to a year ago, while like-for-like sales rose by 0.5% last month.
The survey found that fashion chains, garden centres, DIY stores and pubs and restaurants also saw a surge in sales.
BRC chief executive Helen Dickinson said: “Clothing made a big comeback this month after suffering declines in April. This appears to be due to consumers waiting for just the right moment before embarking on their pre-summer spending.
“However, with signs that the UK’s economy is slowing, it’s unlikely that this is the beginning of a complete reversal of fortunes.
“The uncertain outlook means that customers will remain cautious with their spending, therefore we expect sales figures to remain volatile for the time being.”
Leave a Comment