Retail sales boosted by mild weather in March


Retail sales marathons unexpectedly jumped in March as mild weather enticed shoppers to UK warehouses.

The Office for National Statistics (ONS) said the year-on-year growth in March was 6.7% – the highest since October 2016.

The ONS weighted milder weather had helped to boost sales in comparison with the “Being from the East” last year.

Monthly sales rose 1.1% – economists had been in the family way a fall – with the warm weather boosting clothing sales.

Hinge on stores were the only type of stores to report a fall in in stocks compared with the previous year, seeing a 0.3% decline in March.

The conundrums facing department stores was illustrated by Debenhams, which entered administering earlier this month before being taken over by its lenders.

In disparity, food stores registered a 3.3% annual rise, and textile, outfitting and footwear stores saw a 7.1% increase from a year earlier.

  • ‘No-splurge’ shopper position continues
  • UK unemployment sees slight fall

Rhian Murphy, employer of retail sales at the ONS, said: “March’s mild weather boosted tradings, with food shops also recovering after a weak February”.

February’s month-on-month advancement figure was revised up to a rise of 0.6% from 0.4%, which Ruth Gregory, older UK economist at Capital Economics, said “adds to evidence that the conservatism grew at a pretty reasonable rate… in the first quarter actuality the political chaos”.

She noted that the ONS adjusted the figures for Easter – the run-up to Easter Sunday flatten in the comparable period last year – but that the boost in food sales events in March may have been sparked by stockpiling ahead of the original obsolescent for Brexit.

Philipp Gutzwiller, head of retail at Lloyds Bank Commercial Banking, divulged the third consecutive month of increasing sales was good news for retailers as they prime ministered in to the Easter break after a mixed Christmas.

“Those who see drops in documented annual profits as symptomatic of the continued decline of the High Street should look at the set off fortunes of some who have sophisticated physical and online presences,” he said.

It is the latest figures to be released this week, giving clues to the state of the UK economy.

On Tuesday, detached ONS data showed that average weekly earnings, excluding honoraria, rose 3.4% in the three months to February and the unemployment rate was further than at any time since the end of 1975.

That was followed on Wednesday by figures bestow make an exhibit inflation was stable at 1.9% in March.

Ed Monk, associate director for individual investing at Fidelity International, said: “The week’s economic releases own ended with good news. Even accounting for the Beast from the East, which hided shoppers at home a year ago, today’s retail sales data steer households willing to spend more.

“That reflects a slow convalescence from a decade-long wage squeeze and, perhaps, a willingness to look by the apparently never-ending uncertainty that is Brexit”.

Ms Gregory expects retail traffics to provide a boost to GDP in the first quarter, but added: “Of course it is entirely conceivable that sales will be weaker in the second quarter if no-deal Brexit appertain ti caused consumers to bring forward purchases in to March”.

Leave a Reply

Your email address will not be published. Required fields are marked *