|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
22nd of August 2010
|    Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  
June 17, 2010    

May UK retail sales boosted by World Cup

Bookmark and Share

by Kay Murchie

Figures from the Office for National Statistics (ONS) today revealed a strong performance on the High Street for the month of May - boosted by the sales of televisions in the build-up to the World Cup tournament.

According to the ONS, sales volumes grew by 0.6% during the month compared with April, boosted by a 1.7% increase in household goods sales and a 1% rise in food sales.

The figures exceeded analysts expectations of a 0.3% rise.

On an annual basis, the ONS said sales volumes were 2.2% higher in May compared with a year earlier.

Commenting on the figures, Howard Archer, chief UK economist at IHS Global Insight, said: “It looks like consumer spending is on course to make a decent contribution to GDP growth in the second quarter.

“The breakdown of the May sales data suggest that there was a boost from the World Cup as household goods sale… were likely lifted markedly by sales of widescreen TVs so that fans could enjoy the football more,” he added.

Discuss this in the Finance Markets forums

Story link: May UK retail sales boosted by World Cup

Related financial stories to: May UK retail sales boosted by World Cup:
Previous: «
Next: »

Visited 595 times, 3 so far today

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment

Tags: , build-up, , , , , , , , televisions, ,


Economy News feed Economy News

All Financial News feed All Financial News