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.
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