Consumers in the U.K. grew in May by the second largest amount on about seven years of records due to warm weather and the royal wedding, as well as a steep decline in unemployment, according to The Daily Telegraph.
The volume of retail sales in the U.K. fell by more than double the amount expected in the month after holidays and warm weather boosted hopes that the sector was on pace for strong second quarter growth, according to The Daily Telegraph.
The first sign that persistently high inflation in the U.K. may be easing have been seen the latest survey of Briton’s inflation expectations as well as data wholesale prices, according to Financial Times.
Industrial production in the U.K. fell by the most in one month in nearly two years due to a confluence of unusual factors, but still stoked concerns about the strength of the economic recovery, according to Financial Times.
The central bank of the U.K. has voted to maintain interest rates at the record low level that has been maintained for over two years as the economy continues to struggle to gain momentum, according to The Daily Telegraph.
