UK retail sales jump unexpectedly in April -Breaking
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© Reuters. FILE PHOTO – Primark bags are carried by people after restrictions on retail sales due to coronavirus diseases (COVID-19), were lifted in Belfast, Northern Ireland. May 4, 2021. REUTERS/Clodagh KilcoyneLONDON (Reuters] – Even though retail sales in Britain increased unexpectedly in April according to official data, consumer spending remains downbeat due to the increasing cost of living.
The retail sales volume rose 1.4% in April, following a 1.2% decrease in March.
Reuters polled economic experts and predicted a 0.2% decrease in retail sales monthly.
However, this picture remains incomplete.
After a 0.7% decline in March, retail sales fell 0.3% in April.
On Friday, Britain’s oldest gauge of consumer sentiment, GfK, dropped to its lowest level since 1974, when records were first kept.
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