British Retail Consortium (BRC) April retail like-for-like sales

  • expected is +1.6%
  • prior was -1.7%

Last month this survey took its biggest annual fall since April 2013, which was attributed to an unfavourable year-on-year comparisons due to the late timing of Easter this year. It looks like that was a correct interpretation, with a big, sharp jump in y/y sales in this current survey. The BRC says of today’s result: “Growth was positively distorted by the timing of Easter.”

From David McCorquodale, Head of Retail, KPMG: “Strong April sales figures may have benefitted from Easter falling late this year but it is clear that the effects of the wider economic recovery are feeding through to the retail sector … The renewed confidence in the housing market inspired homeowners to invest in their property once again during April.”

Cable has barely blipped, its up maybe 5 pips, currently around 1.6870.