Retail Sales Up in May Ahead of World Cup
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British Retail Consortium (BRC) has reported that the world cup will bring a boost to the retail sales of the economy. The present statistics has shown that the retail sales in the country increased in the month of May. The sales of the televisions in the state have increased very fast in advance of the world cup in the country. The statistics has shown that the retail sales from March to May were up 2.7% in comparison to the same period last year.
Office for National Statistics (ONS), reported that the Gross domestic product (GDP) in the country grew by a rate of 0.6% in the first three months of the year.
The evidences tell that the sales of the some products in the country are raising very fast keeping in view the world cup. But there are so many products, which still depend upon the falling prices, and some other variables in the country.
Though the present retailing market is experiencing a rising path, still it has become a matter of more concern on the part of the Bank of England to have necessary steps upon the interest rates. The analysts are expecting that the bank will keep the interest rate fixed at 4.5% for the present time.
