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UK retail sales smash forecasts as Britons celebrate royal wedding and bask in sun

Reuters  |  LONDON 

LONDON (Reuters) - British retail sales jumped for a second month in a row in May, far outstripping expectations as a royal wedding and warm weather helped shoppers put a winter slump further behind them, data showed on Thursday.The figures suggested that the economy was recovering from a sharp slowdown in early 2018 that put the Bank of England off an interest rate hike.Retail sales volumes jumped by 1.3 percent in monthly terms following an upwardly revised 1.8 percent bounce-back in April, the Office for National Statistics said.The increase was above all forecasts by economists in a ...

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First Published: Thu, June 14 2018. 14:19 IST