UK April retail sales +9.2% vs +4.5% m/m expected

Author: Justin Low | Category: News

Latest data released by ONS - 21 May 2021

UK
  • Prior +5.4%; revised to +5.1%
  • Retail sales +42.4% vs +36.8% y/y expected
  • Prior +7.2%
  • Retail sales ex autos, fuel +9.0% vs +4.4% m/m expected
  • Prior +4.9%; revised to +4.6%
  • Retail sales ex autos, fuel +37.7% vs +31.7% y/y expected
  • Prior +7.9%
Slight delay in the release by the source. Beats all across the board as UK retail sales activity sizzles in April amid the reopening of non-essential stores.

ONS notes that the biggest contributor to retail sales were from non-food stores, with strong increases observed particularly in clothing stores. Overall, retail sales volumes were 42.4% higher than April last year but that owes much to base effects.

Meanwhile, as physical stores reopened, ONS notes that all retail sectors reported a drop in proportion of online sales during the month of April as such.
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The data pretty much confirms what we should already know by now and that will continue to keep some pressure on the BOE to taper amid inflation and a hotter economy.
 
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