UK retail sales dropped in May as the reopening of all retail sectors and the easing of hospitality restrictions reduced food store sales, data from the Office for National Statistics revealed on Friday.
Retail sales dropped 1.4 percent month-on-month in May, reversing a 9.2 percent rise in April and confounding expectations for an increase of 1.6 percent. However, sales were 9.1 percent higher than in February 2020, before the impact of coronavirus.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.