2ND UPDATE: UK Retail Sales Seen Weakening Further In 2009

Thursday, June 18, 2009

U.K. retail sales fell more than expected in May, dragged down by poor sales of clothing, footwear and by department stores, data from the Office for National Statistics showed Thursday. And, with unemployment continuing to rise, some economists are expecting retail sales to remain weak and possibly worsen later in the year. The volume of retail sales fell 0.6% on the month and by 1.6% on the year in May. In April, sales rose 0.9% on the month by 2.6% on the year.
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