After the long quarantine people streamed to the shops. That led to rapid retail recovery but will not last forever. The revival will be strongly dependent on jobs. Here is the catch: there are not many left.
UK retail sales recovered rapidly in May, with the first loosening of the corona virus lockdown measures. According to figures from the British National Statistical Office, sales increased by 12 percent from a month earlier. In April, when the severe lockdown was still in place, retail sales plummeted by more than 18 percent from March.
The recovery in purchasing power was stronger than most economists surveyed by Reuters news agency had expected. However, store sales were still 13 percent lower compared to a year ago.
The UK closed all non-essential stores in March to stem the spread of the coronavirus. Garden centers were allowed to open again in May. The other stores were only allowed to welcome a limited number of customers again in mid-June.