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BCC: Strong Retail Sales Highlight Economy’s Resilience

  • Retail sale volumes in May 2016 were up 0.9% on the month, and were up 6.0% on the year
  • Average store prices fell by 2.8% in May 2016 compared with May 2015

Commenting on the retail sales figures for May 2016, published today by the ONS, David Kern, BCC Chief Economist, said:

“Along with stronger employment figures, the latest rise in retail sales confirm the findings of our own quarterly economic survey, which showed that UK growth was continuing, albeit at a slower pace.

“However, these figures provide further evidence of the acute contrast between relatively strong retail sales and other sectors of the economy, such as exports and manufacturing, which continue to struggle.

“In addition to persevering with low interest rates, in order to secure sustained growth there must be a stronger focus on supporting manufacturing, investment and exports.”

Last modified on Thursday, 16 June 2016 10:54

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