LONDON (UK) – UK retail sales rebounded much more strongly than expected last month. But public borrowing came in at a record high, as the country gradually relaxed its lockdown, official data revealed on Friday.
Sales volumes in May jumped by a record 12.0% after a historic 18.0% slump in April – a rise at the top end of economist forecasts in a Reuters poll but which still leaves retail sales 13.1% down on a year ago.
Public sector net borrowing came in at 55.2 billion pounds in May – a record high after April’s reading was revised down to 48.5 billion pounds from 62.1 billion.
(Photos syndicated via Reuters)
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