United Kingdom: Retail sales growth gains momentum in April
Latest reading: Retail sales grew 1.2% month-on-month in seasonally adjusted terms in April (March: +0.1% mom), well above market expectations and likely aided by sunny weather. Food stores saw higher sales, while non-food store sales fell.
On an annual basis, retail sales rose at a quicker rate of 5.0% in April (March: +1.9% yoy), the best result since February 2022. Moreover, the trend improved sizably, with the annual average growth of retail sales coming in at 1.2% in April, up from March’s 0.4% reading.