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Interest rates & rain hit retail sales

07 Jun '07
1 min read

UK retail sales rose 1.8% on a like-for-like basis, compared with May 2006, when sales were up 3.6%. May's growth was the weakest since the 0.5% reported in November 2006 and was below the average for 2006 as a whole.

The three-month trend rate of growth fell to 2.8% from 3.3% in April, for like-for-like sales, and to 5.0% from 5.5% for total sales, reflecting the continuing growth of retail space.

Clothing and footwear sales fell back sharply as the weather worsened after a warm April. DIY and gardening also suffered from the cold and rain, and big-ticket purchases continued to disappoint.

Smaller homewares, toiletries and cosmetics held up well. Consumer confidence remained weak, reflected in more caution about making major purchases.

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British Retail Consortium

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