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UK retail sales boosted by April's warm weather | UK retail sales boosted by April's warm weather |
(about 1 hour later) | |
UK retail sales rose by 1.2% in April, the strongest increase since November, as the warm weather encouraged shoppers to stock up on summer clothes. | |
The increase was stronger than expected, with analysts having forecast volumes to rise by 0.4%. | |
Sales of clothing, footwear and textiles jumped 5.2% in April from March, the biggest rise for four years. | Sales of clothing, footwear and textiles jumped 5.2% in April from March, the biggest rise for four years. |
The Office for National Statistics (ONS) figures also showed sales volumes were up 4.7% from the year before. | The Office for National Statistics (ONS) figures also showed sales volumes were up 4.7% from the year before. |
In addition to the warm weather, analysts said that rising levels of income and consumer confidence were also helping to fuel the rise in sales. | |
David Tinsley, economist with UBS, said: "Alongside the weather, it is evident that the conditions are in place for solid underlying retail sales growth." | |
John Hawksworth, chief economist at PwC, said the figures suggested that consumers were continuing to drive the UK's economic recovery, helped by low inflation and rising wages. | |
However, he cautioned that fierce competition meant that retailers were struggling to increase the value of their sales. | |
"Despite the strong headline volume growth figures, there are still tough times ahead on the High Street," he said. | |
The pound jumped higher against the dollar, rising above $1.56, as traders saw the figures as a fresh sign of strength in the UK economy. |