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Easter food spending lifts UK retail sales by most since August

Easter food spending lifts UK retail sales by most since August

By David Milliken

LONDON (Tiafx) – An early Easter boosted food spending in Britain final month, lifting retail sales by potentially the most since August, however the broader portray remained subdued as moist climate dampened demand for diversified goods, the British Retail Consortium stated on Tuesday.

Britain’s financial system entered a shallow recession in the 2d half of final yr, but newer records possess urged a return to sluggish mutter in the significant quarter of this yr as inflation pressures ease.

The BRC stated entire retail spending in March used to be 3.5% greater than a yr earlier, up from annual mutter of 1.1% in February, and exceeding the spin of potentially the most novel shopper designate inflation records for the significant time in extra than two years.

Then again, the figures are no longer seasonally adjusted and replicate how Easter Sunday fell on March 31, more than per week sooner than in 2023.

“While retail sales mutter improved final month, this used to be largely pushed by Easter falling strangely early and the following uplift to food sales in the week preceding the long weekend,” BRC chief government Helen Dickinson stated.

Moist climate in March wretchedness sales of garden furniture, residence enchancment products, dresses and sneakers, she added.

Britain’s Met Place of job stated the United Kingdom had 27% more rainfall than moderate final month, and some southern counties of England had twice the habitual quantity.

Over the significant quarter as an complete, food sales had been 6.8% greater than a yr previously while non-food spending dropped by 1.9%.

© Reuters. FILE PHOTO: Of us shop on Oxford Facet road in London, Britain April 10, 2023. REUTERS/Anna Gordon/File photo

Separate figures from Barclays showed that shopper spending mutter – a broader measure than retail sales – held at 1.9% in March, its joint-lowest annual payment lowest since September 2022, despite a snatch from the begin of “Dune 2” in cinemas and the enhance to pubs from St Patrick’s Day and rugby fixtures.

Karen Johnson, head of retail at Barclays, stated firms hoped demand would beef up in the months forward as a result of greater climate, lower energy prices, greater wage mutter and occasions such as Taylor Swift concerts and the Olympics.

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