UK retail sales up 1.3 percent in May

UK retail sales are up despite a difficult environment
UK retail sales are up despite a difficult environment
By Mark Armstrong
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The figure goes beyond expectations but economists warn of difficult times ahead


UK retail sales figures rose by 1.3 percent in May and analysts are saying the positive trend is due to more than the optimism of Prince Harry's wedding to Meghan Markle.

Experts say the rise is down to a wide range of positive data across the sector but that it is still a tough environment partly due to Brexit concerns.

The figures were ahead of economists' expectations. The pound reacted positively jumping almost half a percent against the dollar despite the rise in US interest rates.

Sterling was also up against the euro although that could be because of Mario Draghi's decision to end the ECB's bond purchasing policy later this year.

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