UK Retail Sales Drop in May

U.K. retail sales fell in May, even as sales of sportswear and toys were boosted by the World Cup.

Retail sales volumes including fuel were 0.5 percent lower compared with the previous month, and 3.9 percent higher compared to the same period in 2013. The slowdown in sales follows April’s 10-year high of 6.9 percent, the Office for National Statistics (ONS) said.

All sectors except fuel stores showed increases in the quantity bought year-on-year. Sporting equipment and clothes surged 28.9 percent from a year ago
“Feedback from retailers in these stores has suggested that the increase in sales in May 2014 is due to the build-up of the FIFA World Cup,” the ONS said in a statement. “A better picture of the impact of the World Cup on retail sales statistics will be available when June data are released on 24 July 2014,” the ONS said.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza