UK Retail Sales decline 2.7% MoM in May vs. -0.5% expected

The United Kingdom (UK) Retail Sales declined 2.7% month-over-month (MoM) in May after climbing 1.3% in April (revised from 1.2%), the latest data published by the Office for National Statistics (ONS) showed Friday.

Markets expected a 0.5% drop in the reported month.