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UK Retail Sales Rise by 1.3% in May

Published 06/14/2018, 04:30 AM
Updated 06/14/2018, 04:30 AM
© Reuters.  UK retail sales rise 1.3% in May vs. forecast for 0.5%

© Reuters. UK retail sales rise 1.3% in May vs. forecast for 0.5%

Investing.com - UK retail sales rose 1.3% in May, the Office for National Statistics said on Thursday.

This was compared to a 1.8% increase in the previous month which was revised up from an initial 1.6% advance.

Economists had forecast a reading of just 0.5%.

Year-on-year, retail sales rose by 3.9% last month.

Analysts had penciled in a 2.4% gain.

Sales in April advanced 1.4% from the year before.

Core retail sales, which exclude automobile sales and fuel, increased by 1.3% in May, after gaining 1.4% a month earlier. April’s advance was revised up from an initial increase of 1.3%.

Economists had expected a 0.3% rise.

Year-on-year, core retail sales gained 4.4% in May, compared to expectations for a 2.5% increase.

A month earlier, they registered a 1.4% advance which was revised down from an initial 1.5% rise.

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