UK Retail Sales drop 0.5% MoM in May

The UK retail sales arrived at -0.5% over the month in May vs. -0.7% expected and 1.4% previous. The core retail sales, stripping the auto motor fuel sales, stood at -0.7% MoM vs. -1.0% expected and 1.4% previous.

On an annualized basis, the UK retail sales plunged 4.7% in May versus -4.5% expected and -5.7% prior while the core retail sales tumbled by 5.7% in the reported month versus -5.1% expectations and -6.9% previous.