UK consumers delivered a strong rebound in spending last month, with April retail sales jumping sharply thanks to Easter timing and unusually sunny weather.
The British Retail Consortium reported a 7.0% year-on-year rise in total retail sales, up from 1.1% in March — the strongest annual gain for any month since the pandemic.
Like-for-like sales rose 6.8%, compared to just 0.9% in March.
Clothing sales were a standout, driven by the sunniest April on record since 1910
Averaging March and April to smooth Easter-related distortions, sales were up 4.3% year-on-year.
Separately, Barclaycard data showed consumer card spending rose 4.5% year-on-year, the largest increase since June 2023 and the first time in over two years that spending growth outpaced inflation.
household confidence remained steady, with 70% of consumers feeling stable about their finances.
This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
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