UK retail sales growth hits highest level in 26 years

British retail sales growth surged in May as expectations for sales next month hit their highest level in more than 26 years, an industry survey showed.

The Confederation of British Industry’s retail sales balance rose to +51 in May, far surpassing economists’ expectations for +17, and up sharply from +12 in April.

The measure of expected sales for June rose to +58, the highest reading since September 1988, and up from +40 in May.