Tags: EU | Britain | Economy

UK Retail Sales Bounce Back Strongly from Snow Impact

Thursday, 24 May 2018 05:38 AM EDT

LONDON (AP) — Official figures show that retail sales bounced back strongly in April after cold weather hit the previous month.

The Office for National Statistics said Thursday that retail sales jumped a monthly 1.6 percent in April, more than making up the 1.1 percent decline in March.

The agency's head of national accounts, Rob Kent-Smith, said car fuel and department store sales recovered from the impact of snow in March.

However, he said, "the underlying position remains subdued with the volume of goods sold over the last six months broadly unchanged."

The increase is likely to stoke hopes that the British economy, which is heavily reliant on consumer spending, will bounce back from a disappointing first quarter, when it expanded by a tepid quarterly rate of 0.1 percent.

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


GlobalTalk
Official figures show that retail sales bounced back strongly in April after cold weather hit the previous month.The Office for National Statistics said Thursday that retail sales jumped a monthly 1.6 percent in April, more than making up the 1.1 percent decline in...
EU,Britain,Economy
128
2018-38-24
Thursday, 24 May 2018 05:38 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved