Strong UK retail stats cause for alarm, say analysts

Key analysts were alarmed by today's strong UK retail sales figures. The official stats claim May ...

Key analysts were alarmed by today’s strong UK retail sales figures. The official stats claim May saw a 3.5% increase month-on-month in UK retail sales rather than the anticipated 0.1% decline. “Today's very strong set of retail sales numbers suggests that, despite all the doom and gloom, the UK consumer continues to shop,” said RLAM economist Ian Kernohan. “Unfortunately this “shop till we drop” attitude will sow the seeds of its own demise. The risk of rate rises followed by a recession has just gone up.” “It does not feel like we are in the retail boom that the figures imply, so e...