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Retail sales rise 0.6%

By rotide
Created 17/06/2010 - 11:39

UK retail sales increased 0.6% in May compared to April, according to the Office for National Statistics (ONS).

Analysts said sales of televisions and food ahead of the World Cup had boosted the figures, with some retailers offering customers money-off offers for trading in older sets and offering cashback for every goal scored by England.

Annual growth in sales volumes in May reached 2.2% - the highest rate since last November.

"It looks like consumer spending is on course to make a decent contribution to GDP growth in the second quarter," said Howard Archer, chief UK economist at IHS Global Insight.





Source URL:
https://www.newbusiness.co.uk/news/retail-sales-rise-06