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UK retail sales show Easter rebound in April - CBI
April 24, 2014 / 10:03 AM / 4 years ago

UK retail sales show Easter rebound in April - CBI

LONDON (Reuters) - British retail sales bounced back this month after a weak March, helped by sales from a later-than-usual Easter, the Confederation of British Industry said on Monday.

Shoppers walk along Oxford Street in central London December 29, 2013. REUTERS/Neil Hall

The CBI distributive trades survey’s retail sales balance jumped to +30 in April from +13 in March, its highest level since February and well above economists’ forecasts for a rise to +17.

Sales expectations for May were also very strong, with the index rising to +43, its highest since December 2010.

“It’s a welcome rebound from March, largely down to the later timing of Mother’s Day and Easter,” said Barry Williams, who chairs the CBI survey panel and is a senior executive at Asda, Wal-Mart’s British supermarket chain.

“This latest survey echoes the current drumbeat of positive economic news. The trick now is for this to become a consistent theme, and deliver much needed support to household spending and economic growth in the months ahead,” he added.

Reporting by David Milliken

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