The retail sales volume in the UK economy reduced by 1.4% in May after a huge increase in April because of the easing of the retail restrictions.
- The total retail sales for April and May were 7.7%, which is higher than March.The major contributor for the decline in monthly retail sales in May is the decline of 5.7% sales volumes in food stores.
- Non-food stores recorded a 2.3% increase in monthly retail sales as household goods recorded an increase in sales volumes.
- The percentage of online retail sales was higher in May than pre-pandemic. Online food stores suffered from decline in sales as consumers moved to physical restaurants and stores.
The total retail sales in May 2021 is 24.6% higher than the same period in 2020.
FTSE 100 dips -1.12%
Source: Office of National Statistics.