Market News
UK retail sales jump in April, helped by sunny weather - REUTERS
MANCHESTER, England (Reuters) -Sunny weather boosted British retail sales in April and households grew cheerier this month, according to figures published on Friday that suggested consumers might be a bright spot in an otherwise drab outlook for the economy.
Retail sales volumes jumped in April by 1.2% month-on-month, the Office for National Statistics said on Friday after a downwardly revised 0.1% increase in March.
A Reuters poll of economists had pointed to growth of 0.2%. The increase marked the fourth back-to-back monthly rise in retail sales - a feat last repeated in 2020, when consumer spending rebounded after the first COVID-19 lockdown.
Outside of the pandemic, it was the longest run of growth since 2004, an ONS official said.
Food sales jumped by 3.9% on the month, which the ONS linked Met Office statistics that showed the sunniest April on record. Non-food sales fell by 0.7%.
A separate report from market research firm GfK showed Britain's consumers turned a bit more confident in May, which might reflect the impact of falling interest rates and an easing of global trade tensions.
(Reporting by Andy Bruce; editing by William Schomberg)
