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UK: Retail sales take a hit in May as consumers cut back spending

New figures by the Office for National Statistics (ONS) have shown a drop of 2.7 percent in retail sales volumes during May, representing the largest monthly fall since December 2023. The decrease comes after a more promising April, in which volumes rose 1.2 percent. Sales were also down by 2.7 percent compared with pre-Covid levels in February...

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