– Retail sales in April beat forecasts with a 2.3% rise

May 18, 2017

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Sales of non-food items grew slowly in April, the survey found.

Retail sales in April jumped 2.3% from the previous month and by 4% compared with April last year.

The Office for National Statistics (ONS) said sales rose thanks to Easter falling later this year, according to the Office for National Statistics.

The year-on-year jump was far higher than expected and was helped by warmer weather, according to retailers.

April’s rebound followed March data when sales saw the biggest fall in seven years.

“The retail sales figure itself was the best since the start of 2016 and will go some way to allay the fears of a slowdown in consumer spending following last month’s sharp drop,” said David Cheetham, chief markets analyst at XTB.

The value of sterling rose on the news, hitting $1.3, its highest level since 29 September. – All News First!

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