Tajuk : British retail sales bounced back in April — and it was down to the weather
link : British retail sales bounced back in April — and it was down to the weather
British retail sales bounced back in April — and it was down to the weather
Reuters
LONDON — UK retail sales had a blowout month in April, benefitting from better weather during the month, according to data from the Office for National Statistics on Thursday morning.
Retail sales rose by 2.3% compared to the month of March, while on a year-to-year basis, sales were up by 4% against April 2016.
Those numbers compared to forecasts from economists of 1% monthly growth, and 2% y-o-y growth prior to the release.
It looks as though April’s better than expected figures were down, at least in part, to good weather in the month.
“Anecdotal evidence from retailers suggests that good weather contributed to growth,” the ONS said.
On a rolling three-month basis — which partially removes the fluctuations associated with single month numbers — sales also picked up.
“The underlying pattern, as measured by the 3 month on 3 month estimate, showed a slight increase in April 2017 following a short period of contraction, increasing by 0.3%,” the ONS’ release said.
Here is the chart of that three-month trend:
ONS
On a sector-by-sector basis, no single area disproportionately drove growth, while department stores continued to see a small fall in sales.
“Compared with March 2017, April 2017 has shown increases in the quantity bought and amount spent across all store types except department stores and textile, clothing and footwear stores,” the ONS said.
“This coincides with monthly falls in average store prices across all retailers except food stores and textile, clothing and footwear stores.”
Commenting on the data, Ben Brettell, a senior economist at FTSE 100 investment firm Hargreaves Lansdown said in an email:
“Given yesterday’s news that real wages are now falling, today’s retail sales data was always going to be closely scrutinised.
“The theory went that squeezed household budgets would likely hit retailers in the pocket too. But in fact the figures beat expectations handsomely, with sales in April 2.3% higher than in March and growing 4.0% year-on-year. April’s figures were always expected to be better than March, because of the timing of the Easter holiday, but economists had forecast a smaller rebound of 1.0%, and much more subdued annual growth of 2.0%”
Thursday’s numbers are a big surprise given the huge rise in inflation seen in the UK since Britain voted to leave the EU last summer, which has generally pushed up prices and depressed shopping activity in the past handful of months.
Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.
✍ Sumber Pautan : ☕ Business InsiderBusiness Insider
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Reuters
LONDON — UK retail sales had a blowout month in April, benefitting from better weather during the month, according to data from the Office for National Statistics on Thursday morning.
Retail sales rose by 2.3% compared to the month of March, while on a year-to-year basis, sales were up by 4% against April 2016.
Those numbers compared to forecasts from economists of 1% monthly growth, and 2% y-o-y growth prior to the release.
It looks as though April’s better than expected figures were down, at least in part, to good weather in the month.
“Anecdotal evidence from retailers suggests that good weather contributed to growth,” the ONS said.
On a rolling three-month basis — which partially removes the fluctuations associated with single month numbers — sales also picked up.
“The underlying pattern, as measured by the 3 month on 3 month estimate, showed a slight increase in April 2017 following a short period of contraction, increasing by 0.3%,” the ONS’ release said.
Here is the chart of that three-month trend:
ONS
On a sector-by-sector basis, no single area disproportionately drove growth, while department stores continued to see a small fall in sales.
“Compared with March 2017, April 2017 has shown increases in the quantity bought and amount spent across all store types except department stores and textile, clothing and footwear stores,” the ONS said.
“This coincides with monthly falls in average store prices across all retailers except food stores and textile, clothing and footwear stores.”
Commenting on the data, Ben Brettell, a senior economist at FTSE 100 investment firm Hargreaves Lansdown said in an email:
“Given yesterday’s news that real wages are now falling, today’s retail sales data was always going to be closely scrutinised.
Thursday’s numbers are a big surprise given the huge rise in inflation seen in the UK since Britain voted to leave the EU last summer, which has generally pushed up prices and depressed shopping activity in the past handful of months.
Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.
✍ Sumber Pautan : ☕ Business InsiderBusiness Insider
Kredit kepada pemilik laman asal dan sekira berminat untuk meneruskan bacaan sila klik link atau copy paste ke web server : http://ift.tt/2ru9RB2
(✿◠‿◠)✌ Mukah Pages : Pautan Viral Media Sensasi Tanpa Henti. Memuat-naik beraneka jenis artikel menarik setiap detik tanpa henti dari pelbagai sumber. Selamat membaca dan jangan lupa untuk 👍 Like & 💕 Share di media sosial anda!
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