UK Retail Sales Jump On Discounting

UK retail sales jumped in May as supermarket discounting and online business drove a better than expected performance for the sector.

The Office for National Statistics (ONS) said that volumes rose 2.1% in May following a 1.1% fall the previous month - partly blamed on bad weather hitting demand for summer fashions.

Today the statisticians pointed to a 3.5% month-on-month rise in food sales - the strongest rise in two years - aided by supermarkets offering promotions amid a bitter price war to secure customer loyalty.

Non-store retailing, which includes online sales, grew by 4.3%.

The performance will boost hopes that consumer spending - so crucial to hopes of a sustained economic recovery - is on the rise despite the continuing squeeze on household incomes driven by low wage growth at a time of rising prices, such as energy bills.

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