U.K. Retail ‘bounding ahead’

Retail sales in the United Kingdom picked up strongly in the year to May, with expectations for next month at their highest in 27 years, according to the latest trade survey from the Confederation of British Industry (CBI).

The survey of 134 firms showed that growth in retail sales and orders for May exceeded expectations, with orders placed with suppliers growing at the fastest pace since December 2010.

“Retailers will be encouraged to see growth in sales and orders on the high street bounding ahead,” Rain Newton-Smith, the CBI’s Director of Economics, said in a news release.