© Reuters.
By Samuel Indyk
Investing.com – The UK consumer took centre stage on Friday after the latest retail sales data and earnings from Tesco and car showroom Inchcape . The reports are painting a clear picture of the UK consumer as lockdown measures are eased and some normality returns.
Retail sales
The Office for National Statistics (ONS) said UK fell 1.4% in May, a minor correction after April’s stellar figures when non-essential retail reopened for the first time this year.
Unsurprisingly, the ONS noted that part of the drop off in May was driven by a as restaurants and pubs were permitted to open their doors to customers.
“Food stores sales suffered as feedback suggested the reopening of hospitality meant consumers took advantage of eating out instead,” ONS Director for Economic Statistics Darren Morgan said.
One of the bright spots from the report was again home improvement and gardening equipment. With increasingly large number allowed to meet outside in gardens and an improvement seen in the weather, outdoor goods continue to perform…
