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Industry News

Retail sales during May fall in the UK

By Kristen Lawrence

28/05/2010 -
CBI Business Group reports that retail sales in the UK fell by 18 percent during the month of May, BBC News reports. Sales had been increasing prior, showing a 13 percent increase in April. May's dip is the largest fall in 14 months.

CBI's survey cites bad weather and a halt in the UK housing market as reasons for the lack of customer demand. The slowed momentum in the housing market "renewed weakness in sales of big-ticket items and other household goods" the report states. The bad weather affected the clothing market, CBI claims.

"These retail sales figures for the early part of May are clearly disappointing," said Ian McCafferty, CBI's chief economic adviser, BBC News relays.


Europe has experienced decreased sales because of economies woes as well.


Retail sales in Canada have been thriving, however. Statistics Canada reports that sales for March reached CAD$37 billion, an increase of 2.1 percent from February - the fourth straight month of improvement for the country.

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