End of month statistics for May 2017, estimate a decrease in UK retail sales

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28th July 2017 11:58 - Retail

End of month statistics for May 2017, estimate a decrease in UK retail sales: The Office of National Statistics reveal that retail sales have decreased, due to the possibility of store prices increasing.

Published in June 2017, the survey covers the estimated rates of the quantity bought, (volume), and the amount spent, (value), End of month statistics for May 2017, estimate a decrease in UK retail salesbetween the end of April 2017 and the end of May 2017. Statistics are recored via the use of the Retail Sales Index, which measures the value and volume of retail sales on a monthly basis, in Great Britain. 

Following the average store price decline in May 2013 and despite the steady increase in retail volume and value, half way between the months of May 2016 and May 2017, statistics start to decline as store prices continue to rise.

In comparison to last year, the survey shows that retail expenditure increased by 4.1%, whereas the amount bought increased by 0.9%. Yet, excluding the fuel stores, the year-on-year growth with regards to the quantity bought was at the lowest rate, since April 2013.   

With regards to other sub-sectors, sales made in non-food stores showed their first year-on-year decrease, since December 2015. For every one pound spent; one fifth was spent in department stores and household goods, 28p was spent in textiles, and the remainder was spent in other goods stores. 

Despite customers increasing their expenditure, the public are otherwise investing their money on larger goods, such as holidays and homeware. However it has been argued by some that increased public expenditure results to “many food and clothing retails not experiencing new-found prosperity”. 

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