UK retail sales in April saw their biggest monthly jump in nearly a year, as the UK economy reopens from the national lockdown.
According to data released from the British Office for National Statistics (ONS), UK retail sales volumes surged by 9.2 percent from March. On an annual basis, UK retail sales soared by 42.4 percent.
The ONS noted that sales volumes were 10.6 percent higher than in February 2020 before the coronavirus pandemic took hold of the British economy.
April’s figures were a big leap from March which itself saw a 5.1 percent increase. Last month’s figure was also twice what analysts had forecast. The big jump came as non-essential shops reopened amid the further easing of lockdown restrictions after months of lockdown.
Leading the way were massive spikes in sales reported by clothing stores and other non-food stores. Clothing stores saw a 69.4 percent surge, whilst non-food stores registered a 25.3 percent increase.
Howard Archer, chief economic adviser at EY ITEM Club, an economics forecasting group in Britain commented:
“Robust retail sales volume growth of 9.2 percent month-on-month in April helped by non-essential retailers opening up on 12th April bodes well for second-quarter UK growth and fuels belief consumers well placed to play leading role in recovery,”
With shops opening, online retail’s share of spending fell to 30.0% in April from 34.7% in March. April’s figure for online retail share was the lowest since December.
Meanwhile, as restaurants reopened for outside dining, and bingo halls reopened, spending at supermarkets posted a slight decline in April.
The economic news from the UK of late has mostly been positive. Just last week, the UK unemployment rate fell unexpectedly and forecasts are for a record year of growth ahead.
