Best Gold Stocks to Buy Now: AABB, GOLD, GDX 
UK Office for National Statistics report showed that retail sales rose 0.9 percent in May, compared to the revised 1.9 (original 1.3) in the prior month. Data beat analysts’ expectations for a rise of 0.2 last month. Year-on-year retail sales soared 6.0, compared to April’s revised 5.2 gain. Consensus had forecast a 3.9 rise.
Upbeat data suggest consumers are likely to remain the key driver of growth of the UK economy in 2016. Solid consumer momentum currently appears to be shrugging off elevated domestic uncertainty, helped by a still-brisk pace of high street discounting.
Record employment and rising wages are continuing to drive growth despite the upcoming Brexit referendum. The sales upturn follows Tuesday’s labour market data, which showed unemployment dropping to a near-eleven year low in April, suggesting that rising employment and wage growth are also feeding through to increased sales.
Retail sales, which account for 5.7 percent of gross domestic product, rose 1.3 percent in the first quarter instead of the 0.9 percent previously reported, though the revision is insufficient to affect overall growth, the ONS said. Sales may get a further boost this month from the European soccer championship in France.
“The boon to retailers from the improving labour market, reviving income growth, low inflation and record low interest rates is something that Markit Household Finance Index survey indicates persisted into June, suggesting the second quarter will see consumers make a strong contribution to economic growth in the second quarter. The worry remains that other aspects of the economy, notably business spending and investment, will have acted as a drag, not least due to rising worries about Brexit,” said Chris Williamson, Chief Economist, Markit.
