Sudden drop in consumption! UK retail sales plunged 2.7% in May, exceeding expectations, casting a shadow over the economic outlook for the second quarter.

According to the China Securities Financial APP, retail sales in the UK saw a sharp decline in May, indicating a drastic reversal in consumer behavior and suggesting that the economy may be heading for trouble in the second quarter. Data released by the UK National Statistics Office on Friday showed that the volume of goods sold online and offline fell by 2.7% compared to the previous month, much worse than the economists' expected 0.5% decrease, marking the largest drop since December 2023.