Forex and other markets news
9.05.2023, 14:13
UK retail sales steady
UK retail sales steady
The British Retail Consortium (BRC) released a survey today (May 9) that growth in UK retail sales remained flat in April. But high inflation drives down shoppers. And the unpredictable weather discourages many consumers from buying summer clothes.
BRC said spending at association member stores in April an increase of 5.1% year-on-year as in March and above the 0.3% drop last year. That figure hasn't been adjusted for inflation, so even though sales seem to be increasing, it's still there. But in reality, the amount of goods sold has decreased dramatically.
BRC Chief Executive Helen Dickinson said: “While retail sales rose in April, Overall inflation increases the amount of goods sold. both food and non-food categories decreased because customers continue to adjust their spending habits
In addition, Ms Dickinson added that “Clothes sales are not so good. due to bad weather make customers think twice before buying summer clothes.”
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