UK: Retail sales declined 0.5% in May - TDS

Sandeep Kanihama FXStreet Contributor

TD Securities analysts note that the UK retail sales declined 0.5% m/m in May as expected, with some small revisions to the prior month.

Key Quotes

“Most components showed declines, with a sharp give-back in clothing & footwear the standout. May marks the second consecutive decline in retail sales, but after a strong 1.6% q/q gain in 19Q1, shouldn't be a big cause for concern for the MPC ahead of today's decision, and still leaves the snapshot for Q2 retail sales in positive territory.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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