Business

UK retail sales rebound in April

Will Horner

 

UK retail sales rebounded in April, surpassing analysts’ expectations due to increased spending on alcohol, fuel and online stores, according to the Office for National Statistics.

Retail sales increased 1.4% from March last month. Economists surveyed by The Wall Street Journal predicted that retail sales would decline by 0.3%.

Compared to April 2021, retail sales were down 4.9%. Still, April sales were 4.1% above pre-pandemic levels in February 2020.

According to ONS, grocery store sales were strongest, up 2.8%, primarily due to spending on alcohol and tobacco. Food sales in supermarkets haven’t changed much.

Non-store sales have also increased sharply since the slump in March. This category, which is primarily online retail sales, was driven by clothing sales, up 3.7% in April.

Sales of automotive fuel were also strong, rising 1.4% following a sharp drop due to the highs of the previous month.

March retail sales were down 1.2%, revised, less than the previously reported 1.4% decline.

 

Write to The Wall Street Journal at william.horner@wsj.com

UK retail sales rebound in April

Source link UK retail sales rebound in April

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