Surprising rise in UK retail sales
Source: Agencies |
May 20, 2011, Friday
|
Print Edition
Print Edition
British retail sales climbed more than expected in April, boosted by the extra holiday for the Royal Wedding and record temperatures, official data showed yesterday.
The Office for National Statistics said sales volumes including automotive fuel rose 1.1 percent last month, well above analysts forecasts for a gain of 0.8 percent, and the biggest rise for April since 2002.
Monthly growth was driven by clothing and food sales, which both rose at their fastest pace in years.
The office said the extra public holiday for the wedding on April 29 combined with the warmest April weather on record helped boost sales in these sectors.
The data chime with surveys from the CBI and British Retail Consortium earlier this month.
However, while the strong monthly rise in yesterday's figures will provide some relief to retailers who have been hard hit by weak consumer morale, underlying sales growth remained weak as Britons face squeezed household budgets.
Retail sales in the three months to April rose 0.2 percent. Excluding fuel, sales in the period were flat.
Economists expect consumer spending to be under pressure in 2011 as rising prices and muted wage growth squeeze household incomes.
Retailers have already warned that they face tough times ahead.
The Office for National Statistics said sales volumes including automotive fuel rose 1.1 percent last month, well above analysts forecasts for a gain of 0.8 percent, and the biggest rise for April since 2002.
Monthly growth was driven by clothing and food sales, which both rose at their fastest pace in years.
The office said the extra public holiday for the wedding on April 29 combined with the warmest April weather on record helped boost sales in these sectors.
The data chime with surveys from the CBI and British Retail Consortium earlier this month.
However, while the strong monthly rise in yesterday's figures will provide some relief to retailers who have been hard hit by weak consumer morale, underlying sales growth remained weak as Britons face squeezed household budgets.
Retail sales in the three months to April rose 0.2 percent. Excluding fuel, sales in the period were flat.
Economists expect consumer spending to be under pressure in 2011 as rising prices and muted wage growth squeeze household incomes.
Retailers have already warned that they face tough times ahead.
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