Tuesday, June 26, 2012
Spending on clothes, shoes lifts UK retail sales in May
Photo: CorbisBritish retail sales bounced back in May as shoppers splashed out on clothes and shoes, official data showed on Thursday. Retailers' decent performance points to some resilience in consumer spending, which drives about 60 percent of Britain's gross domestic product. The Office for National Statistics said retail sales volumes rose 1.4 percent on the month - a notch above economists' forecasts for an increase of 1.2 percent - to give an annual rise of 2.4 percent. Retail sales had
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