Fisher Capital Management World News: Big fall in UK retail sales raises fears about recovery

UK retail sales volumes tumbled 1.4% during May – the biggest monthly fall since January 2010 – according to official data yesterday which raised further worries over the state of the consumer sector and the momentum of economic recovery.
The decline in sales during May, revealed in seasonally-adjusted figures from the Office for National Statistics, was much steeper than the 0.6% fall forecast by the City.
Food sales tumbled by 3.7% month-on-month – their biggest drop since June 2008. Non-food sales declined by 0.6%, with the household goods, clothing, footwear, and textiles, and department store categories all showing falls in volumes.