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Royal wedding and warm weather boosted Britain's economy

POPULAR: Prince Harry and Meghan Markle

A NEW report from Bloomberg suggests Prince Harry and Meghan Markle's royal wedding boosted the UK retail economy, with sales jumping more than economists forecast in May.

Sales climbed 1.3 percent from April, compared with a median estimate of a 0.5 percent gain in a Bloomberg survey. The increase was led by food and clothing, according to data from the Office for National Statistics in London. Excluding auto fuel, sales rose 1.3 percent.

A scorching early May bank holiday and above-average temperatures throughout the month prompted Britons to splash the cash, delivering a boost to retailers after snowstorms hit sales in the first quarter and brought economic growth to a near standstill.

Sales were further boosted by the May 19 wedding of Prince Harry which coincided with soccer’s FA Cup Final.

The pound jumped 0.5 percent after the data, climbing to $1.3438 as of 9:42 a.m. London time.

The ONS figures echo the findings of the latest survey from the British Retail Consortium, which also cited the weather and the royal wedding as factors lifting sales in May.

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