Consumption seems to restart except for food products

Retail sales increased by +6.9% in April and +2.0% in May, astonishing increases for analysts who had expected only +0.5%.

According to data from ONS (Office for National Statistics) and the British Retail Consortium, sales in the UK increase by just +6.9% in April and +2.0%. Momentum of consumption that had not been seen for 10 years, however, these good figures are drawn by the performance of some sectors (textiles and clothing).

In the food sector, sales were down by -2.2%, except during Easter hollidays where there has been a surge of consumption.

Professionals now expect a lot from the World Cup FIFA 2014 which  is an opportunity for more festivities, 6 out of 10 buyers say they buy more food and drinks during such events.

Inflation is estimated at 1.8%, the average wage growth is estimated at 1.7% for 1 year.

source : reuters com