UK retail sales remained flat in early June
According to a new survey, the retail sales in the UK has largely remained flat in early June compared to the same period of the previous year even as many were expecting strong growth in the sector backed by gradual recovery in the overall economy.
The survey, conducted by the Confederation of British Industry between May 29 and June 13, also showed that the figures for early June were better than the previous year. Retailers in the UK had recorded a fall in sales in May compared to the same month of the previous year. The data indicates that the UK consumer is still under pressure even as the experts a positive economic outlook for the British economy.
The data showed that the number of retailer's lower sales volumes compared to the previous year were fewer than earlier. The difference between those reporting a fall and those reporting a rise rose 1 per cent, compared to a net 10 per cent of retailers predicting a rise in sales volume during the previous month. However, the latest reading is better than net 11 per cent of retailers that recorded lower sales in May compared to a year earlier.