UK retail sales recover from record low in May
The CBI monthly retail sales balance improved to a three-month high of -46 in May following April's record low. Retailers remain cautious as weak demand and rising energy costs from the Iran war continue to weigh on consumer sentiment and business investment plans.
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Retailers in the United Kingdom reported a retail sales balance of -46 in May, recovering from a record low of -68 in April. The reading marks a three-month high but confirms that demand remains weak across the British high street. For investors, the data suggests a prolonged squeeze on discretionary spending as energy costs and geopolitical tensions weigh on household budgets.
