UK retail sales plunge in June across most sectors after May rebound

Following 2.9% rise in May

UK retail sales volumes dropped by 1.2% in June across most sectors, with department stores taking a particular hit.

According to data from the Office for National Statistics, the fall in sales volumes followed a 2.9% rise in May. Non-food stores sales volumes fell by 2.1% in June 2024, after 3.3% growth in May. The decline was led by poor figures in the department stores and clothing retailers sectors, with their sales volumes dropping by 3.4% and 1.6%, respectively, and returning to levels seen in the first quarter of this year. Retailers argued this came on the back of election uncertainty, along with poor weather and low footfall. Falling UK wage growth boosts chances of August rate cut Fo...