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- UK retail sales rose sharply in May compared with April
UK retail sales rose sharply in May compared with April
According to the report from Office for National Statistics, retail sales volumes partly rebounded in May 2020 with an increase of 12.0% when compared with the record falls experienced in the previous month. Economists had expected a 5.7% increase. In annual terms, retail sales fell by 13.1% after falling by 22.7% in April.
Non-food stores provided the largest positive contribution to the monthly growth in May 2020, aided by a strong increase of 42.0% in household goods stores, with the opening of hardware, paints and glass stores reflected in this sector.
The proportion spent online soared to the highest proportion on record in May 2020 at 33.4%, which compares with the 30.8% reported in April 2020.
While there was a strong increase in the volume of fuel sales in May 2020, levels still remain 42.5% lower than February 2020, before government travel restrictions were in place.
In the three months to May 2020, the volume of retail sales decreased by a record 12.8%, with declines across all stores except food and non-store retailing.
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