London, England, United Kingdom (4E) – UK retail sales posted a strong performance in May after weak figures in the previous month, according to government data released on Thursday, as consumers took advantage of supermarket promotions.
The Office for National Statistics (ONS) sales jumped 2.1 percent in May from the prior month, and climbed 1.9 per cent from the same month last year.
Analyst had forecast a 0.8 percent rise in May sales from the month before and by 0.1 per cent from the previous year. Sales at food stores grew 3.5 percent on the month, marking the biggest gain since April 2011. The increase was driven by supermarket promotions, an ONS official said.
The latest positive result on retail sales is a contrast from other less upbeat economic news. A CBI business lobby group survey showed that UK factory orders barely increased this month, and outlook by companies about the country’s economic future remains gloomy.
In April, online and other non-store sales posted a considerable gain, climbing 4.3 percent from the previous month and 19.1 percent from the same month in 2012. The UK’s gross domestic product grew 0.3 percent in the first quarter and the Bank of England forecast a 0.5 percent expansion in the second quarter.
Category: Consumer Goods