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UK retail sales beat estimates in April

by ChemOrbis Editorial Team - content@chemorbis.com
  • 19/05/2016 (16:43)
According to data released by the Office for National Statistics (ONS), retail sales in the UK posted an increase of 1.3% on the month in April, beating Bloomberg economists’ expectations calling for 0.6% growth. Retail sales excluding auto fuel sales rose 1.5% in April. On a yearly basis, meanwhile, sales were up 4.3%. March data was revised upwards to show a 0.5% fall from the previously estimated 1.3% fall. Retail sales grew 0.3% in the first quarter, indicating the weakest pace of growth since September 2014.

Sales for food rose 0.1% while sales for non-food products also climbed 2.5% in March. Colder than usual weather also pulled down spending in March and April, which damaged demand for spring and summer clothes. However, the ONS reported clothing sales rose 1.3% on the month thanks to price reductions while all retail categories showed increases.
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