News

UK data – BRC like-for-like sales in May -1.5% y/y (prior -1.7%)

British Retail Consortium (BRC) data:

like-for-like sales in May -1.5% y/y

  • prior -1.7%

Total retail spending -1.1% y/y

  • biggest fall since January last year
  • -0.3% prior (i.e. April)

“It is clear the post-pandemic spending bubble has burst, with retailers facing tougher trading conditions, falling consumer confidence, and soaring inflation impacting consumers spending power,” BRC chief executive Helen Dickinson

Separately, data from Barclaycard:

  • spending in May was +9.3% y/y
  • “The cost-of-living squeeze is clearly influencing discretionary spending habits,” Jose Carvalho, head of consumer products at Barclaycard, said. “Despite this, there are some encouraging signs, particularly in the travel industry as Brits’ appetite for going abroad continues to grow as we approach the summer holidays.”

Info via Reuters.

Articles You May Like

More cities in China sent into COVID lockdown as cases mount
XM Forex Trading Tagalog Tutorial For Beginners
Japan Q2 GDP 0.5% q/q (expected 0.7%)
I’M REVEALING MY ASIAN SESSION FOREX TRADING STRATEGY
Chicken Soup for the Soul (CSSE) stock loses more than 12% on Friday after earnings fail to excite Redbox fans

Leave a Reply

Your email address will not be published.