Retail sales in the UK rose 3.4% year over year on a like-for-like basis in May, following a 3.4% decline in April, according to data from the British Retail Consortium published Tuesday.
The reading, which surpassed the expected 0.6% increase for the month, marks the strongest retail sales growth since April 2025.
BRC attributed the recovery to robust demand in outdoor and summer goods due to a heatwave, alongside an additional boost in food sales from the early bank holiday.
(Updated to add context)Indonesia's foreign exchange reserves fell to $144.9 billion at the end of May from $146.2 billion at the end of April, according to data released by Bank Indonesia on Monday.The decline reflected government external debt repayments and Bank Indonesia's efforts to stabilize the rupiah amid heightened uncertainty in global financial markets and seasonal domestic demand for foreign currency. The impact was partly offset by proceeds from the government's global bond issuance, as well as by tax and service receipts.
Indonesia's foreign exchange reserves fell to $144.9 billion at the end of May from $146.2 billion at the end of April, according to data released by Bank Indonesia on Monday.
Amid heightening geopolitical tensions and global economic turmoil, Indian households expect domestic inflation to rise further, according to a survey released by the Reserve Bank of India on Friday.The bi-monthly data of the Reserve Bank of India's Inflation Expectations Survey of Households for May showed that the current median inflation perception of households rose by 60 basis points to 7.8% from 7.2% in March.The survey was conducted from May 2 to May 11 in 19 major Indian cities.Expectations for inflation over the next three months jumped 80 basis points, while the one-year outlook climbed 50 basis points, reaching 9.3% for both horizons, the survey showed.Separate surveys conducted by the central bank also showed a decline in confidence among both urban and rural consumers.Urban consumer confidence, measured by the Current Situation Index (CSI), dropped to 90.7 in May from 95.7 in March. The Future Expectations Index (FEI), while remaining above the neutral 100 mark, declined to 118.7, the lowest level since September 2023.Meanwhile, the rural CSI slipped to 95.2 from 98.0 in March, while the rural FEI fell to 119.3 from 125.1.