Poland: Retail sales growth speeds up in May
Retail sales grew 5.4% in year-on-year terms in May, which was above April’s 4.3% increase. Looking at the details of...
Retail Sales in United Kingdom
In the decade leading up to 2022, the United Kingdom's economy recorded an average growth rate of 2.1% in retail sales. This is below the 3.5% average for Major Economies. In 2022, retail sales growth was -3.3%.
United Kingdom Retail Chart
Note: This chart displays Retail Sales (ann. var. %) for United Kingdom from 2014 to 2023.
Source: Macrobond.
United Kingdom Retail Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Retail Sales (ann. s.a. var. %) | 3.2 | -1.8 | 5.2 | -3.3 | -2.9 |
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 and 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%.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects British retail projections for the next ten years from a panel of 3 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable retail forecast available for British retail.
Download one of our sample reports to visualize what a Consensus Forecast is and see our British retail projections.
Want to get access to the full dataset of British retail forecasts? Send an email to info@focus-economics.com.
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