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Unexpected UK Retail Sales Jump Provides Q1 Boost to Economy

April 25 (Reuters) - British retail sales rose unexpectedly in March to cap a strong first quarter for the consumer, providing a much-needed boost to the economy, official data showed on Friday.

Retail sales volumes rose by 0.4% in April alone, after downwardly revised growth of 0.7% in March, the Office for National Statistics said.

A Reuters poll of economists had pointed to a month-on-month fall of 0.4%.

For the first quarter as a whole, retail sales rose by 1.6% - the strongest reading in four years, and providing a 0.08 percentage point boost to overall economic output for the quarter.

Clothing and outdoor retail chains said good weather helped sales last month, although supermarkets struggled, the ONS said.

The outlook for the rest of the year looks tougher, with household energy bills on the rise and financial markets in turmoil because of the U.S. trade war.

Earlier on Friday, a closely-watched gauge of British consumer confidence dropped this month to its lowest level since late 2023.

Reporting by Andy Bruce; editing by William James and Sarah Young

Source: Reuters


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