While the U.S. retail market continues to post healthy comp stores sales growth, the global retail market has seen mixed results over the least few months, with Europe starting to see the healthiest gains.
The Confederation of British Industry, or CBI, said that May retail sales in the U.K. were expected to grow at the fastest pace in two years, with approximately 65% of retailers saw sales rise compared to the same month in 2003, while only 14% experienced a decrease.
Business was boosted by May's good weather, the CBI said, as shoppers took advantage of special offers on the high street. Footwear and leisure saw the strongest sales growth for the month.
According to the EU statistics agency Eurostat, retail sales in the 12-nation eurozone rose one percent in April versus the year-ago April. The agency said that retail sales grew 2.2% for the period in the full 25-member European Union.
The biggest increases were reportedly seen in Britain, which was up 5.7%, Sweden at 3.5%, France up 2.7%, while Germany continues to struggle with a 0.7% retail sales decline in the period, according to the agency.
The picture was not as good in Asia-Pacific in April as Australia retail sales were reported to be flat to March, according to the Australian Bureau of Statistic. The median market forecast called for a 0.5% increase. It was the first time in four months that retail sales had not grown. Sales of recreational goods dropped 1.5% while sales at clothing stores increased 3.2%.
In Japan, a surprise decline in retail sales in April was said to have cast doubt on the strength an economic recovery. Trade Ministry figures for April reportedly showed a one percent decline versus March and a 0.8% dip since April last year. Analysts had predicted a year-on-year decline of just 0.2% for April.
