LONDON: Sales by British retailers grew at a slower pace in May, official figures showed on Thursday, as colder weather dampened clothing sales.
UK retail sales volumes rose 0.2 per cent on the month, the Office for National Statistics said, a 4.6 per cent increase compared with May 2014. This was broadly in line with what economists polled by The Wall Street Journal last week were expecting.
Most of the slowdown was due to a strong dip in sales of clothing and footwear, the ONS said, after a spell of colder weather drove households to put off renewing their wardrobes. Clothing stores had benefited from a warm April, although revisions to official data showed they had less of a bumper month than previously believed.
By contrast, sales of food edged up slightly and grew at the fastest monthly pace since December last year.
The UK economy grew at a slower rate during the first quarter of 2015, official figures show, raising concerns about the underlying ills hindering the British recovery — such as lackluster productivity.
However, economists say the prospects for retail sales and consumer spending throughout the year are mostly bright. Official figures showed Wednesday that regular earnings for British workers grew at the fastest pace in more than six years in the three months to April.
Fatter paychecks are good news for British retailers and the overall economy, because they drive households to increase spending.
