• Prior -35

UK retailers reported average sales for the time of year in May but expect them to dip below seasonal norms again in June. Of note, the survey found that sentiment in the retail sector deteriorated at its quickest pace since November 2020. Meanwhile, investment intentions for the year ahead stand at their weakest level since the early stages of the pandemic in May 2020.

That certainly doesn't fuel much confidence when put together with the poor PMI readings earlier here.