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FTSE 100 Live: April retail sales up 0.5%; gilts remain in focus; shares seen flat

Philip Roth by Philip Roth
May 26, 2023
in UK
FTSE 100 Live: April retail sales up 0.5%; gilts remain in focus; shares seen flat
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Retail sales back to growth in April

Retail sales were up 0.5% in April as shoppers returned to the high street following a decline in March.

The growth was ahead of the expected figure of 0.3%.

Food store sales volumes were up by 0.7%, while non-food store sales were up 1%. Other volumes, which are mostly online sales, were up more slowly, at 0.2%.

However, March’s figure was also revised down. The ONS now says sales that month were down by 1.2%, rather than 0.9%, as bad weather kept shoppers at home.

ONS Chief Economist Grant Fitzner said: “Retail sales grew, partially rebounding from a poor weather affected March, with jewellers, sports retailers and department stores all having a good month. Despite continued high food prices, supermarkets also recovered from the fall in March.

“However, these were partly offset by a drop in the amount of fuel sold, despite prices also dropping.”



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