UK Retail Sales Slows Down in May

Sunny weather and the fanfare surrounding the World Cup failed to persuade shoppers to open their wallets in the month to June, with retail sales growth falling to its lowest level since January.

According to the latest CBI barometer of retail sales, buoyant growth during spring and early summer has given way to markedly less rosy picture as shoppers react to persistently low pay rises and the threat of higher mortgage rates later this year.

After a recent improved run for the high street, a fall in clothing and food sales dragged down growth, the survey found.

The survey follows a pattern set by official figures for retail sales in May, which showed that shoppers were generally unwilling to spend after a spree in March and April.

via The Guardian

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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