UK retail sales rebound in May, public debt passes 100% of GDP


Sales at non-food stores increased by 23.7% in May, but were still 42.1% down on a year earlier, with clothes stores the hardest-hit category with sales down by more than 60%.

LONDON: British retail sales rebounded much more strongly than expected last month as the country gradually relaxed its coronavirus lockdown, but public borrowing hit a record high and debt passed 100% of economic output.

Official data showed sales volumes in May jumped by a record 12.0% after a historic 18.0% slump in April - a rise at the top end of economist forecasts in a Reuters poll but which still left sales 13.1% down on a year ago.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Business News

MAA Group sells entire 58% stake in Turiya for RM52.86mil
Majuperak, Shizen to explore solar photovoltaic development in Perak
Asia stocks rise, yen plumbs 34-year low as BOJ stands pat on rates
Fernandes: AirAsia Group to be listed on Bursa Malaysia in September
Spritzer clarifies mistaken identity in insider trading report
Berjaya Corp denies involvement in Forest City Casino talks
Malaysia's PPI higher by 1.6% in March 2024
Microlink wins RM56.45mil contract from Bank Islam Brunei
Bursa Malaysia higher at midday in sync with regional peers
PETRONAS, CelcomDigi collaborate on digital transformation and sustainability efforts for the energy industry

Others Also Read