UK retail sales extend rebound in May, beat estimates

UK retail sales continued to tick higher for the second straight month in May, mainly driven by pick-up in clothes and footwear sales.

On monthly basis, total retail sales jumped 0.9% in May, against a revised 1.9% rise seen in April, while sales excluding fuel picked up by 1%,as compared to a sharp upward revision to 2% for April, the data from the Office for National Statistics (ONS) showed on Thursday. 

ON annualised basis, Total volumes were up by 6% rising less than the revised 5.2% increase in April, sales excluding fuel rose 5.7%, compared with a revised 4.8% increase previously.