Economic Buzz: Retail Sales In UK Grows In April

20 May 2022 , 02:24 PM

UK retail sales grew unexpectedly in April despite consumer confidence sliding to a record low as soaring inflation boosted the cost of living further. Retail sales expanded 1.4 percent monthly, reversing a revised 1.2 percent decline in March, as per the data published by the Office for National Statistics. Sales were forecast to drop 0.2 percent in April. Retail sales, excluding auto fuel, also logged an unexpected monthly growth of 1.4 percent, in contrast to the 0.9 percent decrease in March. On a yearly basis, the retail sales volume decreased 4.9 percent after the 1.3 percent increase posted in March. At the same time, sales excluding auto fuel, declined 6.1 percent, following a 0.2 percent drop in March. Powered by Commodity Insights