UK retail sales arrive at -0.5% m/m in May, meets estimates (GBP keeps highs)

• The UK retail sales arrive at -0.5% m/m in May.
• The UK core retail sales drop by 0.3% m/m in May.

The UK retail sales came in at % over the month in May vs. -0.5% expected and -0.1% previous. The core retail sales stripping the auto motor fuel sales stood at -0.3% m/m vs. -0.5% expected and -0.3% previous.

On an annualized basis, the UK retail sales rose 2.3% in May versus 2.7% expected while the core retail sales also advanced 2.2% in the reported month versus 4.7% previous and 2.5% expectations.