This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-32824234
The article has changed 3 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| 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. | 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%. | 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. |
| The better-than-expected figures led to a strong rise in the pound. Sterling rose by more than a cent against the dollar to above $1.56, as traders saw the figures as a fresh sign of strength in the UK economy. | |
| 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. | 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." | 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. | 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. | 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. | "Despite the strong headline volume growth figures, there are still tough times ahead on the High Street," he said. |