UK Retail Sales Partly Recovered in May | UK Market Update

June 19, 2020 03:00 AM AEST | By Team Kalkine Media

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UK retail sales partly recovered in May, despite the continuation of coronavirus-related lockdown measures. The amount of goods sold last month increased by 12%, in comparison with record falls seen in April, according to the Office for National Statistics. Sales were boosted by a 42% rise at household goods stores, with DIY shops and garden centres reopening.

The UK’s financial watchdog has extended emergency measures to allow consumers struggling financially due to the coronavirus outbreak to freeze loan and credit card payments until 31 October. The measures, which were announced by the Financial Conduct Authority in April for an initial period of three months, also includes overdrafts, store cards and catalogue credit.

The government has been forced to abandon a centralised coronavirus contact-tracing app after spending three months and millions of pounds on technology that experts had repeatedly warned would not work. In an embarrassing U-turn, Matt Hancock said the NHS would switch to an alternative designed by the US tech companies Apple and Google, which is months away from being ready.

#ukbusiness #NHS #ukstocks #Kalikine

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