Request a call back

UK retail sales rise in May by 0.9%

The UK retail sales demonstrated in May the highest annual pace for the 8-year period. It is a signal that the economy returned in some point its lost impulse on the eve of a Brexit referendum scheduled for June 23.


On a year-over-year basis, retail sales rose by 0.6%, according to the data released by the ONS on Thursday. It is a record growth since September 2015.


The official data show a growth of sales in shops of all kinds, though British people spent less for clothes and shoes that it had been fixed a year ago.


The data released in the previous week demonstrated a higher growth of industrial production than it had been forecasted. These data disproved a confidence of that the economy had lost its preliminary impulse to a growth on the background of forthcoming referendum.


Retail sales may positively influence the economic growth. Retail sales are a leading driver of an economic development which takes about 80% of GDP.