UK retail sales fell sharply in May
U.K. shoppers pulled back on spending in May, with retail sales down 2.7% on the month, the steepest drop since December 2023, according to Office for National Statistics. Economists polled by Reuters expected a 0.5% decline.
It breaks a run of four straight monthly rises, which was the best streak since 2020, with retailers saying sunny weather in April helped to lift sales growth to 1.3%.
Shoppers cross Oxford Circus in Westminster, on 12th June 2025, in London, England.
Richard Baker | In Pictures | Getty Images
Here are the opening calls
City of London skyline with 20 Fenchurch Street, affectionately nicknamed the Walkie Talkie, in London, United Kingdom.
Mike Kemp | In Pictures | Getty Images
Spot gold set to post weekly declineStock Chart IconStock chart icon
Spot gold
The bullion — which is considered a hedge against political and financial instability — has risen 31.2% since the start of the year, according to LSEG data.
— Amala Balakrishner