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(CEP News) Frankfurt - According to Office of the National Statistics (ONS), retail sales in the UK declined by a record 3.9% in June on a monthly basis, down from both the 2.6% decline forecast and the 3.6% increase recorded in the previous month. May's retail sales figure was revised down from a previous growth rate of 3.5%.
In a press release published on its website, the ONS noted that the monthly decline was reflected in falls in all retail sectors except in non-specialized stores. The largest declines were observed in textile, clothing and footwear stores, where sales fell 6.9% from May to June, and household goods stores, where sales slipped 5.0% over the same period. Meanwhile, non-specialized store sales rose 0.4%. In annualized terms, retail sales gained only 2.2% for the month. Economists had expected a growth rate of 4.4% in July following the 7.9% increase seen in May. By Todd Wailoo,
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, edited by Nancy Girgis,
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