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.
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UK retail sales rebound in April
Source link UK retail sales rebound in April