United Kingdom: Retail sales dip in June
Retail sales fell 1.2% in month-on-month seasonally adjusted terms in June, which contrasted May’s 2.9% increase and was a much sharper fall than markets were expecting. Sales at food and non-food stores both declined in June, as election uncertainty, poor weather, and low footfall affected sales.
On an annual basis, retail sales fell 0.2% in June (May: +1.6% yoy). Meanwhile, the trend improved modestly, with the annual average variation of retail sales coming in at minus 1.2% in June, up from May’s minus 1.3%.