UK retail sales show surprise increase
UK retail sales show surprise increase
Thursday 21st May 2009
Official figures show retail sales in the UK rose by 0.9 per cent last month compared to March.The figures released by the Office for National Statistics (ONS) today were almost twice the level predicted by analysts.
The ONS announced seasonally adjusted sales rose 0.9 per cent on a month-to-month basis in April, following a 1.1 per cent in March.
In annual terms, retail sales rose 2.6 per cent, after a 0.9 per cent rise the month before.
Economists had previously predicted a rise of 0.5 per cent on the month, and a 2.5 per cent gain on the year, according to a Dow Jones Newswires survey.
The figures for April are the first to be released since the ONS changed its method of compiling the figures after criticism previous statistics were not in line with other retail spending studies.
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