British official retail sales rebound: official data

20th June 2013, Comments 0 comments

British retail sales rallied last month on the back of supermarket promotional activity, official data showed on Thursday.

Retail sales are an important indicator of consumer confidence, and high-street spending is also an important factor of growth in the British economy.

Retail sales grew by 2.1 percent in May from April, the Office for National Statistics (ONS) announced in a statement.

Market expectations had been for a much smaller increase of 0.8 percent, according to a survey by Dow Jones Newswires.

Retail sales grew by 1.9 percent in May compared with the figure for the same month of 2012, the ONS added. Analysts had however forecast a much smaller gain of 0.1 percent.

Sales at food stores jumped 3.5 percent on the month. An ONS official said supermarket promotions helped drive the increase, which was the biggest since April 2011.

Online and other non-store sales also picked-up strongly in April, increasing by 4.3 percent on the month and 19.1 percent on the year

© 2013 AFP

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