UK weather affecting retail sales
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Hopes of a high street recovery could be washed away this Wednesday, with lacklustre quarterly figures expected to cap off the wettest May on record. Analysts expect retail sales to be down as much as 5 per cent on the same period last year. A rainy Bank Holiday weekend would complete a May soaking for a sector already suffering from weak consumer confidence and record levels of personal debt. Richard Hyman, managing director of consumer research specialist Verdict, predicted that, " Even if rain puts a dampener on the weekend for much of the country, one group of shoppers may benefit. Eighteen months ago, DIY was the star performing sector and now it is the worst. It will recover but not over the Bank Holiday. However, it is good news for guys looking for a DIY get-out clause."