BULLET: UK DATA: May BRC Like-For-Like Sales Up 3.6% y/y Vs..
UK DATA: May BRC Like-For-Like Sales Up 3.6% y/y Vs Up 6.8% y/y April
--UK May BRC Total Sales Up 6.2% y/y Vs Up 9.8% y/y April
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After hitting a four year high in April, UK retail sales growth
fell back sharply in May. April sales were boosted by the timing of
easter, which fell in March last year and April this, so some decline in
growth was inevitable. The underlying trend, however, still
shows a marked pick-up. The three-month trend rate of growth for
like-for-like sales rose to 2.7% in May from 1.7% in April and to 5.6%
from 4.7% for total sales. While the BRC data is tricky to square with
official numbers, these figures do support the BOE's forecast for a
pick-up in sales.
Provided by: Market News International
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