BRC: UK retail sales fall in May
The latest monthly report from the British Retail Consortium (BRC) has revealed that retail sales on a like-for-like basis fell 0.8% in May compared to May last year, and follows a 4.6% rise in April (which was attributed to good weather and the Easter holiday).
The figures show that consumers continue to tighten their purse strings amid the recession and fears over rising unemployment.
However, on a positive note, the hot sunny weather at the end of May had a positive impact on outdoor products such as barbecue foods, ice cream and gardening tools.
However, sales of clothing, footwear and furniture fell, according to the figures and were well below last May’s strong sales.
Stephen Robertson, director general of the British Retail Consortium, said: “The turnaround in sales of big-ticket items such as furniture and large electrical goods, which would indicate real change in the mood of customers, still eludes us.”
Helen Dickinson, head of retail at the report’s sponsors KPMG, said: “These figures may look disappointing after last month’s positive results were flattered by the timing of Easter, but extremely challenging market conditions, particularly for the non-food sectors, continue.”
In related news, the Royal Institution of Chartered Surveyors (Rics) reported some good news for the housing market today after it was announced that new buyer enquiries rose for the seventh consecutive month in May, while completed sales were at their highest since August 2008.
According to surveyors, continued growing interest from potential buyers, together with fewer homes being put up for sale is stabilising UK house prices.
However, Rics cautions that current economic conditions could still restrict any recovery in the housing market – particularly rising unemployment
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